The shares of a number of orthopedic device makers got a boost Friday after privately held Biomet Inc. reported strong fourth-quarter sales.
Biomet, based in Warsaw, Ind., said Friday that its total fourth-quarter sales rose 3 percent and sales in the U.S. increased 7 percent over the same period last year. The company reported better sales across a number of categories. Its sports, extremities and trauma division and its sports medicine divisions were particularly strong.
Public companies in the sector rose in afternoon trading. Zimmer Holdings Inc. was up $2.44, or 4 percent, to $63.07. Wright Medical Group Inc. rose 36 cents to $20.70. Smith & Nephew PLC added 30 cents to $47.70.