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Zimmer Biomet (ZBH) PT Raised to $134 at Needham & Company

April 28, 2016 1:46 PM EDT
Get Alerts ZBH Hot Sheet
Price: $131.98 -0.48%

Rating Summary:
    21 Buy, 22 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Needham & Company analyst Mike Matson reiterated a Buy rating and boosted his price target on Zimmer Biomet (NYSE: ZBH) to $134.00 (from $129.00).

Matson commented, "ZBH beat consensus revenue and EPS in 1Q16 and management raised guidance. Pro forma constant currency revenue growth improved to 1.2% in 1Q16 from 0.5% 4Q15 as growth improved across all of ZBH's businesses with the exception of Sports, Extremities, and Trauma (SET) and management's guidance for 2Q16 implies further acceleration. We expect accelerating revenue growth and EPS upside to drive ZBH's P/E multiple, and stock price, higher and we reiterate our Buy rating."

For an analyst ratings summary and ratings history on Zimmer Biomet click here. For more ratings news on Zimmer Biomet click here.

Shares of Zimmer Biomet closed at $115.89 yesterday.



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