Baird analyst Jeff Johnson downgraded Zimmer Biomet (ZBH) to Neutral from Outperform with a price target of $100, down from $117. The firm adjusted ratings and medical technology as part of its 2026 outlook. Zimmer’s “disappointing” 2025 despite good initial new product uptake brings questions around potential Mako surgeon gains for Stryker likely impacting the company, the analyst tells investors in a research note.
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