Zimmer Biomet Lowers Full-Year Forecasts

Shares of Zimmer Biomet were under pressure Monday after cutting its full-year forecast.
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Shares of Zimmer Biomet (ZBH) - Get Report were under pressure on Monday after cutting its full-year forecast. The medical-device maker lowered its 2016 revenue outlook to between $7.63 billion and $7.65 billion, that's below the company's previous guidance. Zimmer Biomet also expects full-year earnings between $7.90 and $7.95 a share, reducing the high end of its previous outlook. For the third quarter, the company reported earnings of $1.79 a share, which was in line with Wall Street's expectations. But revenue of $1.83 billion for the period was slightly below estimates.

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