Analyst Caitlin Cronin from Canaccord Genuity maintained a Hold rating on Zimmer Biomet Holdings (ZBH – Research Report) and keeping the price target at $115.00.
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Caitlin Cronin’s rating is based on Zimmer Biomet Holdings’ recent performance and future outlook. The company reported a solid quarter, surpassing expectations in several areas such as US hips and OUS knees, despite facing challenges like a selling day headwind. However, the growth in US knees was relatively flat, prompting Zimmer Biomet to implement sales force optimization and launch new products to improve performance in this segment.
While the company anticipates better revenues in the upcoming quarters, it faces several headwinds, including tougher comparisons and ongoing sales force upgrades. The acquisition of Paragon 28 is expected to contribute positively to future growth, but its benefits are yet to be fully realized. Given these factors, Cronin maintains a Hold rating, indicating a cautious approach until more clarity emerges regarding the company’s ability to execute its strategies effectively.
In another report released yesterday, Citi also maintained a Hold rating on the stock with a $104.00 price target.
ZBH’s price has also changed moderately for the past six months – from $108.920 to $90.480, which is a -16.93% drop .