Do Biomet’s Rising Sales Beckon a New Ortho Dawn? (Walter Eisner @ OTW)
Biomet, Inc. reported a preliminary 4% rise in second quarter 2012 sales after the markets closed on December 19. Total revenues totaled $725.1 million. The next day, orthopedic stocks shot through the roof. Zimmer climbed almost 7%, while Stryker and Medtronic were up close to 3% to 4%. “We would view the Biomet large joint reconstruction results with cautious optimism for the broader hip and knee markets,” wrote Derrick Sung, an analyst with Sanford C. Bernstein & Co., in a note to investors. ...
