Zimmer Biomet price target lowered to $125 from $140 at Citizens JMP

Citizens JMP lowered the firm’s price target on Zimmer Biomet (ZBH) to $125 from $140 and keeps an Outperform rating on the shares. Zimmer Biomet delivered a largely in-line quarter, posting slight beats on both the top and bottom lines while raising revenue guidance significantly and lowering EPS guidance, reflecting the closure of its Paragon 28 acquisition, the analyst tells investors in a research note. The stock selloff after-hours was likely related to several factors, including weakness in Zimmer’s U.S. Knees business, a back-half-weighted guide for the remainder of 2025, a $350M reduction in free cash flow at the midpoint, and a lack of visibility surrounding the 2026 tariff hit, all of which Citizens believes will be navigable.