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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 health-care equipment maker ZOLL Medical (Nasdaq: ZOLL ) surged more than 25% Friday after its quarterly results and full-year outlook easily topped Wall Street expectations.
So what: Driven by strong growth in its core defibrillator business, ZOLL's third-quarter earnings per share spiked 62%, to $0.42, versus the average analyst estimate of just $0.35 per share. ZOLL shares are hitting all-time highs on the report, so it's clear that investors expect the positive sales momentum to continue.
Now what: ZOLL's short-term outlook looks sunny indeed. Management also raised its full-year profit outlook to about $1.35 per share, largely reflecting the trend of hospitals finally starting to spend again after the past few years of penny-pinching. I'm not thrilled with ZOLL's valuation at this time, but given its solid growth prospects and debtless balance sheet, I'd be jumping on any significant pullback.
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