Standpoint Research Downgrades Zimmer Holdings (ZMH) to Hold
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Price: $113.56 +0.26%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 8 | New: 1
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 8 | New: 1
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Standpoint Research downgraded Zimmer Holdings (NYSE: ZMH) from Buy to Hold.
The firm said, "Zimmer ZMH shares are nearing a three-year high and appear to be fairly valued here at 14X trailing twelve months earnings, 13X estimates for 2011 and 12X (record earnings) estimates for 2012. ZMH reports Q1 earnings tomorrow and this downgrade should not be seen as a bearish call on what we are expecting (tomorrow). The timing on this downgrade is coincidental. We actually downgraded SYK from the same industry at $59.53 on February 7, 2011. SYK reported Q1 on April 20 and is down > 4% since the announcement while ZMH is down 2%. This morning JNJ announced that it is buying Synthes Inc., the Swiss maker of screws and plates to fix broken bones, for 19 billion Swiss francs ($21.67 billion), boosting its orthopedic business in a major realignment of the medical device sector."
For more ratings news on Zimmer Holdings click here and for the rating history of Zimmer Holdings click here.
Shares of Zimmer Holdings closed at $62.79 yesterday.
The firm said, "Zimmer ZMH shares are nearing a three-year high and appear to be fairly valued here at 14X trailing twelve months earnings, 13X estimates for 2011 and 12X (record earnings) estimates for 2012. ZMH reports Q1 earnings tomorrow and this downgrade should not be seen as a bearish call on what we are expecting (tomorrow). The timing on this downgrade is coincidental. We actually downgraded SYK from the same industry at $59.53 on February 7, 2011. SYK reported Q1 on April 20 and is down > 4% since the announcement while ZMH is down 2%. This morning JNJ announced that it is buying Synthes Inc., the Swiss maker of screws and plates to fix broken bones, for 19 billion Swiss francs ($21.67 billion), boosting its orthopedic business in a major realignment of the medical device sector."
For more ratings news on Zimmer Holdings click here and for the rating history of Zimmer Holdings click here.
Shares of Zimmer Holdings closed at $62.79 yesterday.
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