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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Zimmer Holdings

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In a report published Friday, BMO Capital Markets reiterated its Outperform rating on Zimmer Holdings (NYSE: ZMH), and raised its price target from $80.00 to $82.00.

BMO Capital Markets noted, “ZMH reported 4Q12 revenue of $1,181 million (up 1.1%; up 2.1% ex-fx) versus the consensus estimate of $1,173 million, including two fewer billing days in its EMEA region: Hip sales were $349 million (down 1% ex-fx); Knees $476 million (up 1% ex-fx); Extremities $47 million (up 7% ex-fx); Dental $61 million (down 2%); Trauma $84 million (up 10%); Spine $54 million (down 5%); and Other Surgical Products $110 million (up 19%). EPS of $1.51 (up 10.9%) beat our consensus-matching estimate of $1.49. Management provided 2013 guidance: revenue up 2.5-4.5% ex-fx and EPS of $5.65-$5.85 (versus the Street's $5.74 and our $5.84).”

Zimmer Holdings closed on Thursday at $74.60.

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings


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