Zimmer Biomet Hammered, Sales Expected To Take A Surprise 1% Hit

 Zimmer Biomet (ZBH) stock tumbled Thursday after the medtech company said implementing a new enterprise system would slug 2024 sales by 1%.

The Warsaw, Ind.-based company, which sells hip and knee replacements, is planning to implement an enterprise resources planning system. As a result, full-year sales and earnings will take a hit, Evercore ISI analyst Vijay Kumar said in a report.

"While it is intended to gradually get better throughout the year, more than half of the impact is in the third quarter," Kumar said. "Additionally, this will impact EPS (which the company is looking to mitigate) and geographically will primarily impact the U.S. and Canada."

https://www.investors.com/news/technology/zimmer-biomet-stock-erp-implementation/