Deutsche Bank has published a report on Zimmer Holdings ZMH maintaining their previous evaluation of the medical developer.
In the report, Deutsche Bank wrote, "2Q sales and EPS were above First Call/DBe, but mostly due to FX, and lower R&D/tax rate. Y/Y recon and Americas sales, as well as pricing in the Americas and Europe, deteriorated sequentially reflecting the challenging environment. ZMH narrowed its constant currency sales growth range around the midpoint and EPS to the upper end (back end loaded). We expect depressed sale trends to continue (likely longer than the market expects) limiting margin expansion thus despite the low PE valuation, we maintain our Hold; we see better investment options."
Deutsche Bank rated Zimmer Holdings a HOLD with a price target of $66.00. Zimmer Holdings closed Wednesday at $60.84.
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