Zimmer Biomet price target lowered to $83 from $93 at Canaccord

Canaccord lowered the firm’s price target on Zimmer Biomet (ZBH) to $83 from $93 and keeps a Buy rating on the shares. The firm said they delivered a solid Q1 to start the year. As it relates to its US go-to-market transformation, the company called out modest disruption in Q1 within expectations as it continued to execute the changes, with specialization increasing to ~30% of the force, non-dedicated reps declining to below 60%, and early productivity gains in transitioned territories.