Roth Capital upgraded Zimmer Biomet (ZBH) to Buy from Neutral with a price target of $135, up from $115. The firm notes that the announcement of the acquisition of Monogram Technologies (MGRM) covers a critical technological deficit within robotics and puts the company’s core large joint franchise on the right track and positioned to challenge Stryker’s (SYK) dominance in robotics with MAKO. It also follows the recent acquisition of Paragon 28, signaling the company is finally positioned to diversify to higher growth opportunities, much like Stryker began 20 years ago to great success, Roth adds.
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Read More on ZBH:
- Zimmer Biomet’s Strategic Acquisition of Monogram Technologies: Hold Rating Maintained Amid Gradual Financial Impact and Market Expansion
- Zimmer Biomet’s Acquisition of Monogram Technologies: A Balanced Hold Rating Amidst Robotics Expansion and Surgeon Adoption Uncertainty
- Zimmer Biomet Merges with Monogram Technologies
- Zimmer Biomet to acquire Monogram for $4.04 per share in cash upfront
- Zimmer Biomet to acquire Monogram Orthopaedics for $177M