Zimmer Biomet The Latest Healthcare Casualty

Zimmer Biomet Holdings Inc ZBH shares trading lower by $16.50 at $106.55 in Monday's session. After an inline Q3 report, the issue is being punished for its lowered FY 2016 EPS and sales guidance.

The issue, which made its all-time high ($131.25) and closing high ($131) on October 7, is now much closer to the $100 level.

After falling sharply in pre-market trading, it did manage a $1+ bounce off the open to $108 before resuming is downward course.

So far, its has reached $103.93 and has staged a rebound to the $106 area. That low corresponds with a series of seven lows it made in the $103 handle from March 18 to March 29.