Zimmer Biomet upgraded to Hold from Underperform at Jefferies

Jefferies upgraded Zimmer Biomet to Hold from Underperform with a price target of $130, up from $115. The analyst sees "sea changes" in orthopedics due to the increased use of robotic surgery and a push to move more hip and knee procedures into outpatient settings. Stryker (SYK) is the best way to play this theme, although all players can benefit, the analyst tells investors in a research note. The firm sees the ortho recovery continuing and says Zimmer has also shown signs of more consistent execution.