#3 - Zimmer Bionet (NYSE:ZBH)
Zimmer Bionet Holdings Inc. (NYSE: ZBH) is one of the leading medical device companies, particularly in the area of orthopedic and musculoskeletal products (i.e. joint replacements). ZBH stock has been a tough hold for investors since the stock rallied sharply in 2021.
That spike in the stock price came as supply chain pressure eased and elective surgeries resumed after being curtailed by the pandemic. But the company has an exceptionally loyal user base of surgeons fueled by products that are perceived to offer competitive advantages. The company also continues to provide innovations, such as its ROSA robotic assistant, which is the future of surgery.
Analysts are lowering their price targets for ZBH over concerns about competition and a possible economic downturn that could reduce demand for elective surgeries which, by definition, are non-essential.
However, when you look at the analyst forecasts in totality, ZBH stock looks undervalued at a price of around $104 and down 14% in 2024.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.
Read More - Current Price
- $107.29
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 11 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $123.94 (15.5% Upside)
