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Can Zimmer Biomet Recover after Disappointing 3Q17?

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Part 9
Can Zimmer Biomet Recover after Disappointing 3Q17? PART 9 OF 10

Most Analysts Bullish on Zimmer Biomet Stock despite Dismal 3Q17

ZBH’s analyst recommendations

Zimmer Biomet Holdings posted its 3Q17 results on November 1, 2017. The company registered a fall in sales and lowered its guidance for fiscal 2017. In this part of the series, we’ll take a look at the ratings, recommendations, and target prices by Wall Street analysts for Zimmer Biomet Holdings over the next 12 months. As of November 8, 2017, according to analysts’ recommendations provided by a Reuters survey that included 28 investment research firms, ZBH stock has a “buy” rating from 18 (64%) analysts. Nine (32%) analysts gave ZBH a “hold” rating, and one gave it a “sell” rating.

Most Analysts Bullish on Zimmer Biomet Stock despite Dismal 3Q17

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ZBH’s target prices

As of November 8, 2017, the Wall Street analyst consensus 12-month target price for Zimmer Biomet Holdings is $131.70, which amounts to a 21.2% potential upside over the next 12 months over the closing price of $108.70 on November 7, 2017.

By comparison, peers Medtronic (MDT), Stryker (SYK), and Abbott Laboratories (ABT) have Wall Street analyst consensus target prices of $89.70, $157.90, and $61.50, respectively. These prices represent potential returns of 15.3%, 0.9%, and 11.3%, respectively, over the next year.

Revised ratings and recommendations

On November 3, 2017, Stifel Nicolaus reaffirmed its “hold” rating on ZBH stock. It has a target price of $120 per share, which represents a potential return of 10.4%. On the same day, Jefferies reiterated its “buy” rating for ZBH stock with a target price of $136 per share. Piper Jaffray downgraded ZBH stock after the company released its 3Q17 earnings results. It lowered its rating from “overweight” to “neutral” and its target price from $135 per share to $110 per share.

For exposure to Zimmer Biomet Holdings, while avoiding the company-related risks, you can consider investing in the iShares Core S&P 500 ETF (IVV), which invests ~0.10% of its total investments in ZBH stock.

Next, we’ll take a look at ZBH’s recent stock performance.

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