Zimmer Biomet warning letter ‘not the end of the world,’ says Piper Jaffray

Piper Jaffray analyst Matt O’Brien says the warning letter disclosed this morning by Zimmer Biomet is “not the end of the world.” The company expects to respond to the warning letter in the next 15 days and does not anticipate it will have a material impact on its financial results, O’Brien tells investors in a research note. The analyst does not view the letter as a “huge issue” since Zimmer can still manufacture from the facility and any additional cash requirements should be manageable. He keeps a Neutral rating on the shares.

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