Raymond James analyst Jayson Bedford upgraded Zimmer Biomet to Outperform from Market Perform with a $144 price target. Large joint volumes are starting to inflect following a "choppy" period during Covid-19 where Ortho volumes were hit harder than most Med Tech markets, and Bedford thinks this momentum can continue into 2023, and that there is an upward skew to estimates in 2023, the analyst tells investors in a research note. Looking ahead, the analyst estimates that growth in large joints averaged ~8% in 2022, and is modeling ~7% growth in 2023.
Published first on TheFly
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