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Fly News Breaks for July 18, 2016
GMED, ZBH
Jul 18, 2016 | 11:18 EDT
Piper Jaffray analyst Matt O'Brien says Zimmer Biomet's (ZBH) announced acquisition of Medtech, which has a surgical robotics platform used in brain and spine surgery, is another in a series of "compelling" transactions for Zimmer. While skeptical about the use of robotics in spine, the analyst believes recent developments highlight the way industry leaders are positioning for the future. Consequently, Jensen expects the category to develop "nicely" in the coming years. The announcement also provides validation for what Globus Medical (GMED) has been working on, even though there will now be more competition in the category, O'Brien tells investors in a research note. Piper Jaffray has an Overweight rating and $125 price target on Zimmer's shares.
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