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 medical device maker Integra LifeSciences
So what: Third-quarter results weren't bad at all and actually beat expectations slightly. Revenue was up 8% to $202.2 million and earnings per share of $0.77 beat expectations by a penny.
But the company cut its full-year adjusted earnings per share forecast to $2.88-$2.96, and the market didn't see that as a positive sign.
Now what: The guidance range was only lowered by $0.04 at the bottom end, and analysts had expected $2.93 per share, about smack in the middle of the updated range, so the company isn't exactly out of line. The company also didn't change revenue guidance, something it would have done if the business was in any sort of real trouble. I'm seeing this drop as a bit of an overreaction by the market, which could provide a nice entry point for investors looking to buy shares.
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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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