Biomet given sector perform rating by RBC

RBC Capital Markets analyst William R. Quirk rated Biomet Inc. at sector perform, average risk, after the company reported 9.6% constant currency growth (up 7.3% reported) to $539.9 million, slightly above the analyst's 9.2% constant currency expectations. Unfavorable gross margin was offset by a favorable share count and other income. The result is an in line earnings per share of $0.46, according to the analyst, while EBI continues to be a drag on the overall business. Shares of the Warsaw, Ind.-based pharmaceutical company were up 31 cents, or 0.99%, at $31.50 on volume of 6,371,158 shares versus the three-month running average of 2,516,730 shares. (Nasdaq: BMET)

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