Poor earnings badgered health care stocks downward Thursday, even though some companies rose on regulatory approvals and successful study data.
RehabCare Group (RHB) 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.
Natus Medical (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.
Orchid Cellmark (ORCH) 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.