Needham analyst Mike Matson downgraded Zimmer Biomet to Buy from Strong Buy with a $150 price target, which implies 22% upside from current share levels. The downgrade reflects slower orthopedic market growth, the need for portfolio management to drive higher revenue growth, and Zimmer's need for reinvestment which is likely to weigh on margins, Matson tells investors in a research note. He notes the company's orthopedic market growth has slowed since it encountered its initial quality issues. The analyst believes portfolio management can allow Zimmer to increase its revenue growth, but he expects this to take several years.