Canaccord Genuity Boosts PT Zimmer (ZMH) After Q4, Sees Strong 2013/2014
Canaccord Genuity raised its price target on Zimmer Holdings (NYSE: ZMH) from $78 to $87 following Q4 results, citing an exciting new product cycles that is build momentum for a strong 2013 and 2014.
The firm comments, "We reiterate our BUY rating following Q4/12 results with revenues and pro forma EPS outperforming our and Street expectations. US knees outperformed and US hips were in line with our expectations. Extremities and other surgical products were also strong in the Q4/12. While US knees growth came on easy comps and did not see growth reflective of the broader ortho industry, a major new product cycle is
positioned to drive 2013 and beyond. Further restructuring initiatives combined with share buybacks should continue to drive margin improvement and EPS."
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 $74.60 yesterday, with a 52 week range of $57.46-$75.91.
The firm comments, "We reiterate our BUY rating following Q4/12 results with revenues and pro forma EPS outperforming our and Street expectations. US knees outperformed and US hips were in line with our expectations. Extremities and other surgical products were also strong in the Q4/12. While US knees growth came on easy comps and did not see growth reflective of the broader ortho industry, a major new product cycle is
positioned to drive 2013 and beyond. Further restructuring initiatives combined with share buybacks should continue to drive margin improvement and EPS."
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 $74.60 yesterday, with a 52 week range of $57.46-$75.91.