Market Insider

ZBH plummets 13% after weak third quarter

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Shares of Zimmer Biomet fell nearly 14 percent Monday after the company cut its sales guidance for the year, following weak third-quarter results.

The musculoskeletal-healthcare company now expects full-year revenue growth of between 1.65 and 1.9 percent after previously reporting growth expectations of between 2.5 and 3 percent. It also lowered the high end of its earnings expectations for the year.

The stock saw its worst day since Oct. 2007 when it fell 15.09 percent. Monday was the stock's second-worst day ever.

The healthcare sector fell more than 0.5 percent on Monday. Other laggers include Edwards Lifesciences, Perrigo, Alexicon and AbbVie. Healthcare continues to be one of the worst-performing S&P sector, down more than 6 percent.