Health Stocks in Motion

Shares of Symmetry Medical(SMA) were among the worst-performing health-related stocks Thursday, falling 24% after the provider of orthopedic products posted mixed third-quarter results and lowered its full-year earnings outlook.

For the third quarter, the company earned $8.2 million, or 24 cents a share, on sales of $67.2 million. Excluding one-time items, the company would have earned 23 cents a share. Analysts polled by Thomson First Call expected earnings of 24 cents a share on sales of $64.9 million. In the year-ago period, Symmetry earned $2 million, or 12 cents a share, on sales of $54.1 million.

Looking ahead, Symmetry Medical now expects full-year earnings of 90 cents to 92 cents a share. The guidance includes a charge of 2 cents a share. Excluding the charge, the company sees earnings of 92 cents to 94 cents a share. Previously, the company forecast earnings, before the charge, of 93 cents to 96 cents a share. Despite cutting its earnings forecast, the company raised its sales target to $258 million to $261 million from its previous guidance of $253 million to $259 million. Analysts expect 2005 earnings of 95 cents a share on sales of $262.6 million. Shares were trading down $5.55 to $17.20.

Syneron Medical(ELOS) rose 4% after the medical device maker posted better-than-anticipated third-quarter results and lifted its 2005 sales guidance. For the third quarter, the company earned $14.6 million, or 53 cents a share, well above analysts' mean estimate of 37 cents a share. Year-ago earnings were $7.3 million, or 29 cents a share. Sales rose to $25 million from $14.9 million a year earlier, and beat Wall Street's expectation of $22.4 million.

Syneron now sees full-year sales of $91 million to $92 million, up from its previous view of $84 million to $85 million. Analysts had forecast sales of $87.2 million.