jetcityimage/iStock Editorial via Getty Images Argus has upgraded Zimmer Biomet ( NYSE: ZBH ) to buy, citing the company’s focus on launching new products and tuck-in M&A to drive growth. The investment firm noted that Zimmer's ROSA system for robotic surgeries is used for neurosurgery in addition to implant procedures for knee, hip and shoulder joints. It also cited Zimmer's cementless knee implant, which it says can cut down procedure time and help improve hospital staffing efficiencies.

Argus also said the company has a favorable demographic tailwind. “Replacement knee and hip joints will aid the mobility and quality of life for the aging populations in the advanced economies of Asia, Europe and North America,” it added. The investment firm said it expects management to highlight its growth strategy and new products during Zimmer's investor day on May 29.

Argus set its price target for the stock at $150. More on Zimmer Biomet Zimmer Biomet Holdings: Moving Along Zimmer Biomet Holdings, Inc. (ZBH) Q1 2024 Earnings Call Transcript Zimmer Biomet Q1 2024 Earnings Preview Zimmer Biomet wins FDA clearance for ROSA Shoulder System Seeking Alpha’s Quant Rating on Zimmer Biomet.