In a report released today, Steven Lichtman from Oppenheimer maintained a Buy rating on Zimmer Biomet Holdings (ZBH), with a price target of $135. The company’s shares closed on Friday at $116.60.
“ZBH reported better-than-expected 4Q sales on 2/1 of $2.07B (+1.6% cc) vs our/ consensus $2.05B/2.06B, led by outperformance in Other which more than offset lower Knees. EPS was in line on higher opex and interest/other; GM was better than expected. Initial 2019 sales guidance is for reported growth of -0.5% to +0.5% yoy including ~100-150bps FX headwind, and EPS of $7.70-7.90 (bracketing consensus). With supply now no longer a barrier to stated turnaround timelines, management is shifting focus to new product launches including ongoing cementless knee, ROSA robotics knee (recently FDA cleared) and spine (pending approval), and PERSONA revision knee. ROSA will be in focus at AAOS in March. Management is also shifting from solely supply recovery to supply chain efficiency initiatives.”
According to TipRanks.com, Lichtman is ranked 0 out of 5 stars with an average return of -7.2% and a 47.2% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Motus Gi Holdings Inc, and Integra Lifesciences.
Zimmer Biomet Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $128.67, representing a 10.4% upside. In a report issued on January 25, Cantor Fitzgerald also maintained a Buy rating on the stock with a $135 price target.
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The company has a one-year high of $134.55 and a one-year low of $96.99. Currently, Zimmer Biomet Holdings has an average volume of 1.33M.
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Zimmer Biomet Holdings, Inc. designs, manufactures and markets orthopaedic reconstructive products, sports medicine, extremities and trauma products; craniomaxillofacial and thoracic products; dental implants; and related surgical products. The company operates through three geographical segments: America, Europe and Asia Pacific.