Zimmer Biomet Provides Upbeat Guidance
The medical device maker expects sales of $2 billion in the fourth quarter, topping Wall Street expectations of $1.97 billion.
Zimmer Biomet (ZBH) - Get Report shares bounced higher Tuesday after the medical device maker said it would have better sales in the fourth quarter and fiscal 2017 than Wall Street is expecting.
For the fourth quarter, Zimmer expects sales to hit $2.013 billion, topping the consensus estimate of $1.972 billion. For the year, the company expects to generate revenue that is also ahead of estimates. While the company did not provide specific fiscal 2017 earnings guidance, it did say that it expects earnings per share to come in on the high end of its previously announced $7.90 to $7.95 range.
