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 infection prevention and control products company Cantel Medical (NYSE:CMN) deflated by as much as 13%, following the release of its fourth-quarter results.

So what: For the quarter, Cantel Medical reported a 15% increase in revenue to $98.7 million, as net income more than doubled to $9.6 million, or $0.35 per share. The EPS figure easily surpassed expectations of $0.32; however, sales fell well short of the $102.7 million that analysts had been looking for. The key point worth noting, aside from the revenue miss, was that gross margins rose by a whopping 600 basis points to 43.3%, as synergies from acquisitions began to really kick in.

Now what: After doubling over the trailing 12-month period, today's move lower may be deserved, or perhaps it's a little unfair, given Cantel's record results. I would personally like to see if Cantel can grow its business organically over the coming quarters, and I'd also prefer to see that forward P/E of 18 fall a bit. In the meantime, I'll keep an eye on the stock from the sidelines by adding it to My Watchlist.

Craving more input? Start by adding Cantel Medical to your free and personalized Watchlist, so you can keep up on the latest news with the company.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

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