In a report released today, Craig Bijou from Cantor Fitzgerald maintained a Buy rating on Zimmer Biomet Holdings (ZBH), with a price target of $135. The company’s shares closed yesterday at $124.72.
Bijou observed:
“We rate ZBH shares Overweight and have a 12-month price target of $135. Manufacturing issues and supply constraints have hamstrung the company over the last two years, leading to low single-digit growth and meaningful share loss. ZBH remains the market leader in hips and knees with a pipeline of products, particularly in knees, that should help the company recapture a portion of its lost share. We believe the risk/reward is attractive at current valuation levels and think there could be significant upside to the shares if ZBH posts a couple of quarters of accelerating growth.”
According to TipRanks.com, Bijou is a 3-star analyst with an average return of 2.0% and a 50.5% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Ra Medical Systems Inc, Integra Lifesciences, and Wright Medical Group.
Zimmer Biomet Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $134, which is a 7.4% upside from current levels. In a report issued on April 24, Needham also upgraded the stock to Buy with a $155 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 1.25M.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZBH in relation to earlier this year.
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Zimmer Biomet Holdings, Inc. provides musculoskeletal healthcare services. It designs, manufactures and markets orthopedic reconstructive products, sports medicine, biologics, extremities & trauma products, office based technologies, spine, craniomaxillofacial & thoracic products, dental implants and related surgical products.
