Zimmer Biomet Holdings

ZBH · NYSE

$96.00+$1.01 (+1.06%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $94.99

ZBH analyst rating

HoldConsensus of 19 analysts over the last 12 months. 26% rate it a buy.

Strong buy0
Buy5
Hold12
Underperform1
Sell1

12-month price target · 24 analysts

Average $109.01 (+13.6% upside)

Low: $93.93
Now: $96.00
High: $135.81

Upgrades and downgrades

The latest rating actions, newest first

ZBH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 7, 2026	Initiates	Equal-Weight	$100.00	68%
Canaccord Genuity	Aug 10, 2026	Maintains	Hold	$83.00 → $100.00	38%
Truist Securities	Aug 7, 2026	Maintains	Hold	$92.00 → $106.00	50%
RBC Capital	Aug 6, 2026	Maintains	Outperform	$101.00 → $110.00	49%
Bernstein	Aug 6, 2026	Maintains	Market Perform	$91.00 → $93.00	51%
Stifel	Aug 6, 2026	Maintains	Buy	$105.00 → $110.00	62%
UBS	Jul 28, 2026	Initiates	Sell → Buy	$89.00 → $115.00	43%
BMO Capital	Jul 9, 2026	Initiates	Outperform → Market Perform	$95.00	45%
Evercore ISI Group	Jul 6, 2026	Maintains	Outperform	$120.00 → $110.00	52%
Citigroup	May 28, 2026	Maintains	Neutral	$95.00 → $93.00	60%

The case for and against

Updated Oct 14, 2026

Bull case

Zimmer Biomet Holdings is supported by a leading global position in orthopedic reconstructive implants, with a broad large-joint franchise and meaningful exposure to extremities, trauma, and sports medicine, while the April 2025 Paragon 28 acquisition is already helping growth accelerate. 1Q26 net sales rose to $2,086.7 million, up 9.3% reported and 6.8% constant currency, and EPS of $2.09 beat expectations by about 12% as tariff refunds lifted margins, underscoring resilient underlying profitability. The ongoing distributor-to-direct salesforce transition, SKU rationalization, and new-product traction in hips and knees should support better execution, more consistent growth, and margin expansion over time.

Bear case

Zimmer Biomet Holdings is exposed to meaningful downside because it is highly leveraged to reconstructive orthopedics, a market facing weak volume recovery, persistent pricing pressure, and intensifying competition from both established rivals and newer entrants with differentiated technology. Its 1Q26 results were complicated by two large account losses, the Kaiser Permanente nursing strike, and salesforce disruption, with US knees growth of only 2.2% versus broader US organic growth of 3.2%, while management said the channel overhaul will not be complete until the end of 2027. Although sales of $2.09B and EPS of $2.09 exceeded expectations, margins and EPS were aided by a one-time tariff refund benefit, and the company’s significant exposure to Europe and Asia adds geographic risk.

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