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Zimmer Biomet (ZBH) Stock Plunges on Lowered Outlook

NEW YORK (TheStreet) -- Shares of Zimmer Biomet (ZBH) were tumbling 13.69% to $105.77 on heavy trading volume mid-Monday morning after cutting its guidance for the full year.

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...