BMET - Biomet Incorporated $46.75 +2.00 (+3.63)

Operating as one of the world's largest manufacturers of reconstructive devices, Biomet (BMET) has done remarkably well in keeping its growth steady in the maturing orthopedic device market. To do this, BMET has had to continually boost its internal development of new products and strategic acquisitions. This investment has paid off! The company has grown its revenues by about 18% over the last five years and is expected to generate an additional 12% over the next two years. These results have paid off well for shareholders, who have already seen the stock gain 72% from its lows on the year. In addition to the solid fundamentals of the company, the BoD's announced a 3:2 split on July 6th, to be paid on. We're hoping that this will add some extra excitement to the stock. The company currently has 500 million share authorized with 118.3 million shares outstanding, so additional splits remain a possibility. Currently, shares were able to break into all time high territory today, closing up 4.5% to $46.75. This advance came on good volume (3.2m shares) and could suggest that we're on our way to the all-important $50 level. For support, the $45 mark, bolstered by a previous high, should be strong. Further down, the $44 level also represents a previous high and could provide satisfactory support ahead of our stop at $43. Use sharp bounces off these support levels as potential entry points, when confirmed by good volume. We'll plan on using support and resistance to time our entries ahead of our exit the day prior to the payable date (8/8).

Picked on August 1st @ $46.75 Change since picked 0.00