Zimmer Biomet Holdings (ZBH): Sales Miss Was Disappointing But Now Its In The Stock - Leerink
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Leerink Partners analyst, Richard Newitter, reiterated his Outperform rating on shares of Zimmer Biomet (NYSE: ZBH) but cut the price target to $136 from $150.
The analyst thinks ZBH’s 3Q sales miss was disappointing but considering the 14% pullback, with ZBH back at a ~6x P/E discount to the large cap MedTech avg., the valuation appears to be disconnected from the company’s double digit EPS growth prospects and longer-term mid single digit top-line potential.
Shares of Zimmer Biomet closed at $105.40 yesterday.
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