Zimmer Biomet initiated with a Neutral at BTIG. BTIG analyst Ryan Zimmerman initiated Zimmer Biomet with a Hold rating as part of his broader research note titled “Riding the Robotic Wave in Orthopedics”. The analyst notes that the company has been a leader in Orthopedics but is currently undergoing a turnaround under new management while an upgrade of one of its manufacturing facilities progresses. Zimmerman considers Zimmer’s revenue outlook for FY18 to be achievable, even though the two-year timeline for its turnaround may be impacted by delays in the manufacturing facility remediation as the company also addresses FDA expectations around its productivity gains.
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