Leerink analyst Richard Newitter lowered his price target for Zimmer Biomet to $141 from $146 reflecting a slightly lower multiple due to group multiple contraction. The analyst reiterates an Outperform rating on the shares as he believes Biomet is a turnaround story in the making, and under new leadership the company can improve execution and eventually drive faster EPS growth as the company comes out on the other side of a manufacturing supply recovery, re-accelerates the top-line, and given the potential that it may even begin to engage in some portfolio re-shaping during 2019 and beyond