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 Omnicell (NASDAQ:OMCL) rose by as much as 15% at the opening bell, and still hold a 10% gain as of this writing, as investors continue to react to the company's strong earnings report, which was released after yesterday's close.

So what: Omnicell's quarterly revenue soared 17% year over year to hit $105.8 million, and adjusted earnings hit $0.29 per share for the fourth quarter. Both results topped Wall Street's expectations, which had been for $101.1 million in revenue and $0.28 in EPS.

The company also updated its guidance for both the full year and first quarter of 2014 during its earnings call. Omnicell now expects to generate between $96 million and $98 million in revenue and approximately $0.23 in adjusted EPS for the first quarter, and anticipates full-year revenue to be in the $415 million to $425 million range, with adjusted earnings of $1.17 to $1.23 per share for the year. Omnicell's first-quarter guidance hits Wall Street's targets of $97 million in revenue and $0.23 in EPS right on the nose, and its full year guidance is a little bit better than the $417 million in revenue and $1.17 in EPS analysts were expecting.

Now what: Omnicell is certainly growing, but its very narrow beat on last night's earnings, coupled with the fact that it projects a maximum EPS growth rate of 14% for the current year over 2013's $1.08 in adjusted EPS, makes this reaction a bit too optimistic. Omnicell's shares had already gained 45% before today's pop, but its bottom line isn't growing fast enough to keep up with investor enthusiasm. It could still be a viable investment, but I'd be very cautious after today.

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