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 hospital bed supplier Hill-Rom Holdings (NYSE: HRC) sank 15% today after its quarterly results and full-year guidance disappointed investors.

So what: Hit by a charge related to a potential legal settlement, Hill-Rom's third-quarter earnings plummeted 95% to $1.5 million, or $0.02 per share. Hill-Rom shares have done particularly well in 2011, fueled by growth in its North American acute-care segment, so today's profit plunge comes as an extra-big disappointment to Wall Street.

Now what: Expect the share price turbulence to continue. Due in large part to weak international sales, management also lowered its full-year earnings and revenue outlook a touch, giving investors little reason to be upbeat in the short term. Of course, with Hill-Rom now sporting a forward P/E of 14 after this sell-off, Mr. Market might be providing an inexpensive long-term opportunity.

Interested in more info on Hill-Rom? Add it to your watchlist.