« Greenspan Strikes Again | Main | Morgan Stanley’s Profits Plunge 83% »

Biomet, one of the stocks on my Buy List, reported very strong earnings today, although it was one penny per share below Wall Street’s forecast. Still, the company’s profits jumped 66% over last year’s fiscal first quarter. By any standard, that’s impressive growth.

Sales rose 11% and Biomet earned 40 cents a share compared with 24 cents last year. Wall Street was looking for 41 cents. The company also said it’s expecting earnings of 42 to 44 cents a share for next quarter. The stock is still well below its highs of last year.

The trouble spot in the industry has been Zimmer, which is another one of my favorites. The stock is down about 20% in the last two weeks. There seems to be concern—and a lot of confusion—over pricing pressures. Katherine Martinelli, an analyst at Merrill Lynch, said that the pricing fears are overblown. She actually sees Zimmer topping its own forecasts on foreign sales. Zimmer will report earnings in late October.

Posted by edelfenbein at September 21, 2005 10:55 AM