( KNSY) were among the best-performing health-related stocks Monday, jumping 14% after the medical device company posted third-quarter results that topped forecasts.
For the quarter ended March 31, the company earned $1.8 million, or 15 cents a share, on revenue of $15.7 million. Excluding items, the company earned $3.4 million, or 21 cents a share. Analysts polled by Thomson First Call expected earnings of 19 cents a share, before items, on revenue of $15.1 million. In last year's third quarter, the company earned $4.2 million, or 26 cents a share, on revenue of $14.8 million.
For the fourth quarter, Kensey Nash sees earnings of 24 cents to 26 cents a share, bracketing analysts' mean estimate of 25 cents. The company predicts revenue of $16.8 million to $17.6 million, compared with analysts' projection of $17.6 million. Shares were trading up $3.69 to $29.99.
fell 2% after the company filed a shelf registration statement with the
Securities and Exchange Commission
that would allow it to sell up to $100 million in stock. The company, which develops tests used to detect disorders in newborns, said it would use the proceeds for general corporate purposes, including acquisitions, working capital, and debt reduction. "This shelf registration statement provides us financial flexibility we need going forward," Natus said. Shares were down 42 cents to $19.36.
China Medical Technologies
( CMED) jumped 15% after the medical device company backed its fiscal 2006 earnings and sales guidance. The company, which originally issued its forecasts in mid-February, said it continues to see earnings growth of about 48% to 60% and sales growth of 65% to 84% for the year ended March 31. China Medical plans to issue fourth-quarter and full-year results on June 16. Shares, which had fallen by about 35% since the middle of February, were up $3.55 to $27.03.
fell 2% after
said global sales of QLT's Visudyne product fell about 14% to $107 million during the first quarter. Novartis blamed the decline on off-label competition in the U.S. QLT plans to report its own first-quarter earnings results on April 27. Shares of QLT were trading down 20 cents to $8.04.
Shares of Novartis, meanwhile, rose modestly after the Swiss drugmaker posted mixed first-quarter results. The company earned $1.96 billion, or 83 cents a share, on revenue of $8.3 billion. Analysts expected earnings of 72 cents a share, with revenue of $8.59 billion. Last year, Novartis posted first-quarter earnings of $1.48 billion, or 63 cents a share, on revenue of $7.34 billion. Shares were up 11 cents to $57.35.
Other health care volume movers included
, down 9 cents to $24.78;
, up 49 cents to $50.06;
, down 37 cents to $22.12;
, down 9 cents to $66.73;
Johnson & Johnson
, up 13 cents to $58.50;
, up 30 cents to $49.82;
, down 43 cents to $34.31;
, down 13 cents to $24.67;
( SGP), down 21 cents to $19.44.