Bear Stearns puts Biomet at peer perform

Biomet Inc. was rated at peer perform by Bear Stearns analyst Milton Hsu on acquisition expectations. However, despite the sudden retirement of the company's chief executive officer, the analyst points to Biomet's unique corporate culture and its lack of differentiated technologies in orthopedics as offsetting a takeover possibility. Shares of the Warsaw, Ind., pharmaceutical company were down 38 cents, or 1.00%, at $37.78 on volume of 8,003,522 shares versus the three-month running average of 2,097,870 shares. (Nasdaq: BMET)

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