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| BMET - Biomet | Week Ended: 12/16/00 |
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| Price |
37.00 |
P/E Ratio |
37 |
52 Week High |
41.00 |
| Last Week |
+ 1.13 |
Earnings Date |
12/14/00 |
52 Week Low |
18.08 |
| Picked At |
36.19 |
Date Picked |
10/31/00 |
Sector |
Healthcare |
| Activity |
| Current |
37.00 |
Open |
37.69 |
Change |
-1 13/16 |
| Low |
36.94 |
High |
38.31 |
Volume |
2,839,700 |
ZACKS | NEWS | PROFILE | HISTORICAL PRICES | OPTIONS | D-CHART |
| Company Description Biomet, Inc. designs, manufactures and markets products used primarily by orthopedic medical specialists in both surgical and non-surgical therapy. For the three months ended 8/31/00, net sales rose 8% to $230.3M. Net income rose 18% to $48.4M. Revenues reflect continued penetration of the reconstructive device market and higher sales of fixation products. Earnings also reflect increased sales of higher margin products.
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| Play Description December 10, 2000
Biomet manufactures and markets a wide array of orthopedic medical products that are used for surgical procedures as well as rehabilitative care. The markets have recently been rewarding companies that are least likely to warn of lower earnings. Biomet fits that description. Analysts expect the Company to earn $0.29 when Biomet reports earnings before the market opens this Thursday. Biomet will increase its earnings by four pennies over the same quarter a year ago, if it meets these expectations. We believe that a split announcement in conjunction with the earnings release is a distinct possibility due to historic precedence. The stock has been consolidating between its newly established all-time high of $41.00 and the 50-DMA, which is currently at $36.09. These two prices represent strong support and resistance points since the stock has been vacillating in this range for over a month. If the market starts the week negatively and support fails, we would hold off initiating new positions. We have been concerned about the MACD, which has been in steady decline since mid-November. OBV is still strong but has been moving sideways for a while. We will exit this position no later than Wednesday's close to avoid the potential volatility and risk associated with the earnings release.
Picked on October 31st @ $36.13
Change since picked +1.62
Stop Loss @ $33.00
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| Update December 12, 2000
We have been playing Biomet for six weeks, but that's coming to an end tonight. Due to our policy of exiting plays before earnings are announced, we had to exit this position at today's close. Analysts are expecting profits of $0.29. Those of you who are still in this play could get a favorable exit price if the earnings are solid and the company does announce a split.
Picked on October 31st @ $36.19
Profit/Loss +1.81 ( 5%) (Exited Tuesday @ $38.00)
Best Profit +4.81 (11%)
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