Analyst Josh Jennings from TD Cowen maintained a Hold rating on Zimmer Biomet Holdings and keeping the price target at $104.00.
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Josh Jennings’s rating is based on Zimmer Biomet Holdings’ recent performance and future outlook. The company provided a positive update for the second quarter, narrowing its top-line organic growth guidance with a midpoint of 4%. This suggests a stable growth trajectory, but not enough to warrant a more aggressive rating.
Additionally, Zimmer Biomet’s management expressed confidence in achieving stronger growth in the latter half of the year, particularly in the third quarter. However, the reliance on second-half weighted guidance could be a concern for some investors, despite the company’s reassurance and positive early trends. These factors combined led Jennings to maintain a Hold rating, indicating a wait-and-see approach as the company works to meet its full-year targets.
Based on the recent corporate insider activity of 31 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.