Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of MedAssets (Nasdaq: MDAS) fell 11% today after the company reported earnings after the bell yesterday.

So What: MedAssets, which provides financially related software and services to hospitals and health care providers, had a third-quarter revenue increase of 16%. Earnings -- excluding acquisition-related expenses -- rose 14%. Management also lowered guidance for the next quarter, and that certainly contributed to the drop.

Now What: In the conference call management did acknowledge some lumpiness in contracted revenue, as "several large deals" did not close in the third quarter as expected, though they "remain in the near-term sales pipeline." CEO John Bardis says that most all of his leading indicators for contracted revenue growth remain robust, however.

Interested in more info on MedAssets? Add it to your watchlist by clicking here.