Analyst Maintains Buy on Zimmer Biomet, Keeps $109 Price Target Amid Ongoing Multi-Year Transformation

Mathew Blackman, an analyst from TD Cowen, maintained the Buy rating on Zimmer Biomet Holdings. The associated price target remains the same with $109.00.

Mathew Blackman has given his Buy rating due to a combination of factors tied to Zimmer Biomet’s multi‑year transformation and early execution against its 2026 objectives. He views 2026 as a rebuilding year focused on setting achievable targets, restoring management credibility, and executing consistently, and notes that the company has already modestly exceeded expectations across key metrics despite headwinds such as U.S. knee SKU rationalization and a difficult first‑quarter comparison.

Blackman also highlights a compelling longer‑term trajectory, with 2027 expected to benefit from a series of differentiated product launches and a more focused commercial footprint, which he believes can drive a gradual grind higher in earnings off a discounted valuation. Looking beyond 2028, his thesis assumes Zimmer Biomet can sustain mid‑single‑digit revenue growth, expand gross margins toward 70%, and lift EBITDA into the mid‑30% range, turning the business into a strong cash generator, and he maintains his $109 price target unchanged as these elements remain intact.

Blackman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Intuitive Surgical, and Beta Bionics, Inc.. According to TipRanks, Blackman has an average return of 8.8% and a 44.59% success rate on recommended stocks.

In another report released on April 13, RBC Capital also maintained a Buy rating on the stock with a $101.00 price target.