Barclays Reiterates an 'Overweight' on Zimmer Holdings (ZMH); Incrementally Positive After Meeting w/CFO
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Price: $113.56 +0.26%
Rating Summary:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays reiterates an 'Overweight' on Zimmer Holdings (NYSE: ZMH) price target of $73.00 (from $67.00).
Analyst, Matthew Taylor, highlighted four key points after meeting with the company's CFO and VP, including: 1) ZMH is committed to return cash to shareholders including $1.3 B remaining on its authorization through 2014; 2) Strong new product cycle for ZMH over the next 12 months with a) the new PERSONA knee system; b) Vivacit-E hip cups; c) Gel-One single injections (hyalaronic acid for arthritis); d) broad launch of ZMH's power tools; 3) Restructuring is on track with ZMH noting that it expects to fully offset the device tax in 2013 with restructuring savings and reach its $400 MM savings target in 2016. 4) Demand trends in the recon market appear healthy as ZMH has seen 3-5% unit growth in recent periods and anticipates this will continue.
On increased confidence, Barclays' Taylor raises FY13 EPS estimate from $5.67 to $5.72.
For an analyst ratings summary and ratings history on Zimmer Holdings click here. For more ratings news on Zimmer Holdings click here.
Shares of Zimmer Holdings closed at $65.22 yesterday.
Analyst, Matthew Taylor, highlighted four key points after meeting with the company's CFO and VP, including: 1) ZMH is committed to return cash to shareholders including $1.3 B remaining on its authorization through 2014; 2) Strong new product cycle for ZMH over the next 12 months with a) the new PERSONA knee system; b) Vivacit-E hip cups; c) Gel-One single injections (hyalaronic acid for arthritis); d) broad launch of ZMH's power tools; 3) Restructuring is on track with ZMH noting that it expects to fully offset the device tax in 2013 with restructuring savings and reach its $400 MM savings target in 2016. 4) Demand trends in the recon market appear healthy as ZMH has seen 3-5% unit growth in recent periods and anticipates this will continue.
On increased confidence, Barclays' Taylor raises FY13 EPS estimate from $5.67 to $5.72.
For an analyst ratings summary and ratings history on Zimmer Holdings click here. For more ratings news on Zimmer Holdings click here.
Shares of Zimmer Holdings closed at $65.22 yesterday.
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