Zimmer Biomet price target lowered to $104 from $119 at TD Cowen

TD Cowen lowered the firm’s price target on Zimmer Biomet (ZBH) to $104 from $119 and keeps a Hold rating on the shares. The company’s Q1 results were overshadowed by 2025 guidance and tariff commentary, the analyst tells investors in a research note. The firm says that while Zimmer’s organic growth guidance remains at 3%-5%, an expected sequential decline in Q2 and reliance on a back-half ramp “appear to be unsettling for investors based on today’s stock reaction.” TD thinks greater clarity on the company’s second half of 2025 growth drivers and tariff headwinds will likely be needed for a recovery in the shares.