ZBH : notice multiple upgrades this morning, stocks gave up almost half of gain, looked more like a pass to their clients than anything . In my opinion, when hospital elective procedures are down more than 80% how can a Joint replacement company not have 70-80% hair cut in revenue! All in all I will definitely avoid this stock until significant discount emerges.
IMO elective procedures are coming back faster than what was anticipated a month ago. Talked to a Chicago doctor about preparation for covid and said they didn't know what to expect so organized different hospital sites to handle worse case assumptions weeks ago. Very few ICU beds are being used currently even as tests are only rationed to those that get admitted to icu while non-covid patients got delayed or consulted remotely. So hospitals are just sitting with excess capacity. They are opening up highest priority electives now.
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