Zimmer Biomet: Hold Reiterated as Execution Risks, Salesforce Transition, and CFO Departure Offset Q1 Beat and Margin Upside

William Blair analyst Steven Lichtman has maintained their neutral stance on ZBH stock, giving a Hold rating today.

Steven Lichtman has given his Hold rating due to a combination of factors, including mixed first-quarter dynamics and execution risks. While Zimmer Biomet exceeded consensus expectations on both revenue and EPS, knee segment results fell short, and management chose not to lift its full‑year organic sales outlook, signaling caution about the pace and durability of growth.

He also highlights the ongoing transition to a more exclusive and specialized salesforce, which is strategically positive but unlikely to deliver meaningful financial benefits before 2027 and could create interim disruption. In addition, the unexpected CFO departure adds another layer of uncertainty, even as guidance for margins and EPS has improved modestly on tariff benefits and prior acquisitions, leading him to see a balanced risk/reward profile at current levels rather than a clear buy or sell case.

In another report released today, Wells Fargo also maintained a Hold rating on the stock with a $90.00 price target.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ZBH in relation to earlier this year.