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 laboratory service provider Bio-Reference Laboratories
So what: Bio-Reference reported a record quarter including revenues of $126.6 million and net income of $8.6 million, an increase of 19.4% from last year. Both numbers beat analyst expectations, but the market still wasn't satisfied with the performance.
Now what: The market came back to its senses later in the day, and the stock is only down about 3%. Bio-Reference has shown remarkably consistent growth, and CEO Marc Grodman thinks the company will be able to continue growth well into the future. The pullback today looks like a good opportunity for long-term investors looking to get into the stock.
Interested in more info on Bio-Reference Laboratories? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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