Biomet kept at market underperform by JMP

Biomet, Inc. was maintained at its market underperform rating and a price target of $32 by JMP Securities analyst Robert C. Faulkner. Both Biomet hip and knee growth missed JMP's projections, indicating continued deceleration in the reconstructive market. The analyst reduced his estimates, with the fourth-quarter 2006 earnings per share unchanged at $0.46, 2007 earnings per share at $1.86 from $1.88, and 2008 earnings per share to $2.05 from $2.10. Shares of the Warsaw, Ind., medical products company were down 5 cents, or 0.14%, at $35.10 on volume of 2,845,050 shares versus the three-month running average of 1,747,890 shares. (Nasdaq: BMET)

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