Needham Assigns a Buy Rating on Zimmer Biomet Holdings (ZBH)


In a report released today, Michael Matson from Needham assigned a Buy rating to Zimmer Biomet Holdings (ZBH), with a price target of $168.00. The company’s shares closed last Tuesday at $146.10.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.1% and a 64.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Merit Medical Systems.

Currently, the analyst consensus on Zimmer Biomet Holdings is a Strong Buy with an average price target of $158.31, representing a 5.2% upside. In a report released today, BTIG also maintained a Buy rating on the stock with a $160.00 price target.

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Based on Zimmer Biomet Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.93 billion and net profit of $243 million. In comparison, last year the company earned revenue of $1.89 billion and had a net profit of $431 million.

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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. Its products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Zimmer Biomet Holdings was founded by Justin O. Zimmer in 1927 and is headquartered in Warsaw, IN.

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