Zimmer Biomet (NYSE: ZBH) shares tumbled 8.90% in pre-market trading on Wednesday, despite reporting third-quarter earnings that beat analyst expectations. The medical device company posted adjusted earnings per share of $1.90, surpassing the consensus estimate of $1.88, representing a 9.2% increase from the same period last year.

However, the company's revenue performance and outlook appear to be causing investor concern. Zimmer Biomet reported quarterly sales of $2.001 billion, slightly missing the analyst consensus estimate of $2.005 billion. While this figure represents a 9.70% increase over the previous year, the marginal miss may have contributed to the negative market reaction.

Adding to the pressure, Zimmer Biomet narrowed its full-year 2025 guidance. The company maintained its reported revenue growth forecast but adjusted its constant currency and organic constant currency revenue growth guidance. This adjustment, combined with a recent target price cut by Barclays from $112 to $105, may have amplified investor worries about the company's growth prospects in a challenging economic environment.