Poor earnings badgered health care stocks downward Thursday, even though some companies rose on regulatory approvals and successful study data.
disappointed investors, despite making earnings gains from the year-ago quarter. The rehabilitation program management provider reported net first-quarter income of $1.9 million, or 12 cents a share, as compared with a loss of $565,000 or 3 cents a share, in the same quarter last year. Results were shy of the Thomson Financial consensus target of $2.5 million in net income and earnings of 15 cents a share. Shares dropped 96 cents, or 5.8%, to $15.74.
(BABY - Get Report)
also was shy of analysts' expectations. The company, which makes neurodiagnostic devices for infants, reported net first-quarter income of $1.5 million, or 7 cents per share, missing analysts' estimates by a penny, according to Thomson Financial. In the year-earlier period, the company reported a net loss of $4.7 million, or 25 cents per share. The company increased guidance for second-quarter and full-year revenue and earnings per share, but the stock still slid $1.41, or 7.8%, to $16.71.
reported a net loss of $1.7 million, or 6 cents a share, for the first quarter, compared to a net loss of $6.6 million, or 27 cents a share, for the year-earlier period. The loss was in line with analysts' expectations, but earnings did not impress investors. Shares were down 59 cents or 9.1%, to $5.92.
Proving not everyone had a bad go at earnings Thursday,
Albany Molecular Research
(AMRI - Get Report)
climbed $1.04, or 10.8%, to $10.65 on strong quarterly results. The company announced net income of $3.2 million, or 10 cents a share, for the first quarter, compared to net income of $1.9 million, or 6 cents a share, in the year-ago period. The company outperformed expectations of analysts surveyed by Thomson Financial, who predicted earnings of 6 cents a share for the quarter.