Biomet maintained by JMP at underperform

Biomet, Inc. was maintained by JMP Securities analyst Robert C. Faulkner at a market underperform rating after a company report showed deceleration in both U.S. hips and U.S. knees, consistent with market deceleration thesis. Health of the market is suspect. The stock looks historically cheap, but the pricing cycle is likely far from over and numbers may continue to be at risk, JMP said. Shares of the Warsaw, Ind., maker of musculoskeletal medical products were up $1.19, or 3.37%, at $36.50 on volume of 2,931,886 shares versus the three-month running average of 2,060,410 shares.

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