Biomet at sector perform by RBC

RBC Capital Markets analyst William R. Quirk rated Biomet Inc. at sector perform, average risk and $40 price target after the company reported 4.1% constant currency revenue growth to $508.2 million, below RBC's 8.2% constant currency ($524.0 million) expectations. Biomet's hip and knee growth continues to outperform recent market rates. The analyst remains on the sidelines with Biomet's stock, given the continued underperformance of the fixation and spine business coupled with a lack of clarity around the timing of the associated turn-around. Shares of the Warsaw, Ind.-based pharmaceutical company were down $1.14, or 3.31%, at $33.33. (Nasdaq: BMET)

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