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ZBH

Zimmer Biomet

$105.80

-1.455 (-1.36%)

, MDT

Medtronic

$92.02

0.16 (0.17%)

07:30
12/19/18
12/19
07:30
12/19/18
07:30

JPMorgan sees 2019 as transition year for Zimmer, downgrades to Neutral

JPMorgan analyst Robert Marcus downgraded Zimmer Biomet Holdings (ZBH) to Neutral from Overweight and lowered his price target for the shares to $118 from $140. Despite the company's "favorable shifts in messaging and strategy," shares of Zimmer are set to end the year down as earnings estimates for 2019 and 2020 continue to move lower and its sales recovery is happening at a slower than expected pace, Marcus tells investors in a research note. He believes the company's sales growth will likely "remain depressed" throughout 2019 as it works to stabilize supply and get reps back on track. With 2019 "looking like another transition year," the analyst moves to the sidelines with respect the stock. Marcus coupled the downgrade of Zimmer Biomet with an upgrade of Medtronic (MDT) to Overweight.

ZBH

Zimmer Biomet

$105.80

-1.455 (-1.36%)

MDT

Medtronic

$92.02

0.16 (0.17%)

  • 27

    Jan

  • 01

    Feb

ZBH Zimmer Biomet
$105.80

-1.455 (-1.36%)

11/27/18
UBSW
11/27/18
INITIATION
UBSW
Buy
Zimmer Biomet initiated with a Buy at UBS
UBS analyst Matthew Taylor initiated Zimmer Biomet with a Buy rating and $140 price target.
12/17/18
FBCO
12/17/18
INITIATION
Target $102
FBCO
Underperform
Zimmer Biomet initiated with an Underperform at Credit Suisse
Credit Suisse initiated Zimmer Biomet with an Underperform rating and $102 price target.
12/17/18
FBCO
12/17/18
INITIATION
Target $102
FBCO
Underperform
Zimmer Biomet initiated with an Underperform at Credit Suisse
Credit Suisse analyst Matt Miksic initiated Zimmer Biomet with an Underperform rating and a price target of $102 as part of his broader research note on Medical Supplies and Devices partially titled "No Disruption, No Alpha", saying the market share in its knee business has eroded by about 4.5% over the past four years. Miksic expects the company to lose another 2% in market share by the end of 2020, adding that given its debt and cash constrains, any "impactful" M&A for Zimmer Biomet before 2020 is "unlikely".
12/19/18
JPMS
12/19/18
DOWNGRADE
Target $118
JPMS
Neutral
Zimmer Biomet downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Robert Marcus downgraded Zimmer Biomet Holdings to Neutral and lowered his price target for the shares to $118 from $140. The analyst believes the company's long-term outlook is intact but he sees limited near-term upside.
MDT Medtronic
$92.02

0.16 (0.17%)

12/17/18
FBCO
12/17/18
INITIATION
Target $109
FBCO
Outperform
Medtronic initiated with an Outperform at Credit Suisse
Credit Suisse initiated Medtronic with an Outperform rating and $109 price target.
12/17/18
FBCO
12/17/18
INITIATION
Target $109
FBCO
Outperform
Medtronic initiated with an Outperform at Credit Suisse
Credit Suisse analyst Matt Miksic initiated Medtronic with an Outperform rating and a price target of $109 as part of his broader research note on Medical Supplies and Devices partially titled "No Disruption, No Alpha", saying the stock offers "favorable exposure" to Structural Heart and Robotic Surgery medicine. The analyst also believes that Medtronic is a "sustainable market leader" with an attractive portfolio of "emerging-and high-growth businesses organically and via tuck-in deals". Having integrated most of the Covidien assets, Miksic also expects Medtronic to be "more active on the M&A front".
12/19/18
JPMS
12/19/18
UPGRADE
Target $109
JPMS
Overweight
Medtronic upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Robert Marcus upgraded Medtronic to Overweight and raised his price target for the shares to $109 from $100. The analyst cites the company's "consistent" execution and "transformative" pipeline for the upgrade.
12/19/18
JPMS
12/19/18
UPGRADE
Target $109
JPMS
Overweight
JPMorgan upgrades Medtronic to Overweight, boosts target to $109
JPMorgan analyst Robert Marcus upgraded Medtronic to Overweight from Neutral and raised his price target for the shares to $109 from $100. The analyst says that over the past year he's seen a "significant turnaround in performance" at Medtronic. Management has delivered four consecutive beat and raise quarters and "materially improved" free cash flow generation, Marcus tells investors in a research note. Over the next 12-18 months, the company can grow at least in line with its end-markets at 5% growth, contends the analyst. Plus, he believes a "number of underappreciated data presentations and transformative new product launches" do not appear to be fully appreciated by the Street. Marcus sees "meaningful upside" to Street estimates and the potential for multiple expansion on sustained execution.

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Aytu BioScience

$1.22

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JNJ

Johnson & Johnson

$130.78

-0.57 (-0.43%)

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TGNA

Tegna

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RCUS

Arcus Biosciences

$8.12

-0.075 (-0.92%)

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MLND

Millendo Therapeutics

$7.09

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MREO

Mereo BioPharma

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$NYE

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FAST

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PE

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BAC

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$NYE

NYSE Market Internals

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