Zimmer Biomet price target raised to $125 from $116 at UBS

UBS analyst Danielle Antalffy raised the firm’s price target on Zimmer Biomet to $125 from $116 and keeps a Sell rating on the shares. Zimmer Biomet reported solid Q2 results, but UBS remains cautious going forward on Zimmer’s ability to sustain growth into 2024, the analyst tells investors in a research note. Underlying market dynamics within Knees and Hips have not shifted, and near-term outperformance will largely be tied to procedure catch-ups as broader staffing and hospital dynamics improve, UBS says.