Zimmer Biomet price target lowered to $98 from $113 at Wells Fargo

Wells Fargo analyst Larry Biegelsen lowered the firm’s price target on Zimmer Biomet (ZBH) to $98 from $113 and keeps an Equal Weight rating on the shares. The company reported a Q1 sales/EPS beat but U.S. Knees come in soft. Wells also points out that 2025 organic sales guidance remains intact, with EPS guide lowered for Paragon 28 dilution. The firm believes Q2 “lowered” guide, steep implied second half of the year sales growth acceleration and 2026 tariff/margin uncertainty weigh on Zimmer’s outlook.