Before the market open, the medical-device maker lowered its 2016 revenue outlook to between $7.63 billion and $7.65 billion from between $7.68 billion and $7.72 billion. Zimmer Biomet now expects adjusted earnings between $7.90 and $7.95 per share for the year, compared to its previous outlook between $7.90 and $8 per share.
Analysts surveyed by FactSet are looking for adjusted earnings of $7.97 per share on $7.70 billion in revenue.
For the 2016 third quarter, Zimmer Biomet reported adjusted earnings of $1.79 per share on revenue of $1.83 billion. Analysts surveyed by FactSet were looking for adjusted earnings of $1.79 per share on revenue of $1.84 billion.
About 3.45 million shares of Zimmer Biomet have been traded so far today, well above the company's average trading volume of roughly 1.07 million shares a day.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.
Zimmer Biomet's strengths such as its robust revenue growth, increase in net income, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: ZBH
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.