RBC Capital lowered the firm’s price target on Zimmer Biomet (ZBH) to $111 from $115 and keeps an Outperform rating on the shares as part of a broader research note on MedTech ahead of Q3 results. There is broad interest in the Medical Supplies & Devices sector, with multiple opportunities across the landscape and attractive valuations with dislocations creating opportunities, the analyst tells investors in a research note. Sentiment for Zimmer is neutral going into Q3 earnings due to typical Q3 seasonality and the company’s exposure, with expectations priced in for a 6% organic growth quarter due to the timing of orders, the firm added.
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