Zimmer Biomet price target lowered to $149 from $172 at Baird

Baird analyst Jeff Johnson lowered the firm’s price target on Zimmer Biomet to $149 from $172 and keeps an Outperform rating on the shares. The firm said despite the lower price target, their fundamental view on Zimmer is unchanged today as theystill see a company moving past multi-year turnaround efforts and at least closer to sustained medtech-like growth, yet a stock that’s trading at even bigger discounts to medtech peers.