Zimmer Biomet Holding ZB8s

The first quarter was better than expected, but things are still depressed. We haven't seen lift off yet in China, but I do think it is coming. The housing pure plays are up 30 to 50% year to date, but Home Depot has lag. They just had an analyst day a couple of weeks ago and they reiterated 3 to 4% comps,. And then I look at their total addressable market at $950 billion. It's not cheap at 21 times, but I think this has been a really big laggard.