Updated from 1:59 p.m. EDT

Option Care ( OPTN) was easily the best-performing health care stock Tuesday after the Buffalo Grove, Ill., home health care provider raised its second-quarter financial guidance.

The company now expects to report earnings of 21 cents a share on sales of $98 million. Analysts polled by Thomson First Call had expected it to earn 19 cents a share on sales of $91.9 million. It raised its full-year outlook as well. It now expects to earn 84 cents to 87 cents a share vs. previous guidance of 75 cents to 80 cents a share. Analysts had expected it to earn 78 cents a share. Its strong results were helped by tighter control of its operating expenses. Shares of Option Care traded up $2.50, or 17.6%, to $16.71.

Shares of World Heart ( WHRT), however, did not fare so well on Tuesday. Its shares got hammered after it said it would restate first-quarter results and released preliminary second-quarter results that fell short of expectations. The restatement will reduce revenue by about $1 million and increase the company's first-quarter loss by about $500,000.

Second-quarter sales of $2.4 million were well short of the $5.65 million that analysts had expected. Looking ahead, World Heart said that third-quarter sales would come in at $4 million, well short of expectations. Fourth-quarter sales are now expected to be $4.8 million. Shares of World Heart traded down $1.86, or 47.8%, to $2.03.

Hi-Tech Pharmacal ( HITK) fell after it reported fourth-quarter financial results that were weaker than expected and warned that full-year sales for 2005 would fall short of expectations. Earnings of 12 cents a share fell short of the 20 cents a share that the lone analyst following the company had expected. Sales, meanwhile, came in at $13.4 million, also short of expectations.

Looking ahead, the pharmaceutical company said that it expects to grow 2005 sales by 15% to 20%, implying sales of $64.8 million to $67.7 million. The lone estimate calls for it to report sales of $73 million. Shares of Hi-Tech Pharmacal traded down $1.91, or 11.3%, to $15.02.

Shares of GeoPharma ( GORX) rose after a subsidiary reported success in clinical studies for its drug that treats mucositis in cancer patients. The drug improved the efficacy parameters with all ratings scales in the patients, the company said. Mucositis is the inflammation of the mucosa in the mouth and it occurs as a side effect of chemotherapy treatment. About 400,000 patients in the U.S. experience mucositis, and market potential is believed to be between $300 million and $500 million. Shares of GeoPharma traded up 39 cents, or 7.7%, to $5.44.

Allergan ( AGN) fell after it said an advisory panel failed to recommend approval for its psoriasis drug Tazoral. The advisory panel couldn't recommend the drug because of its potential to cause severe birth defects. The panel recommended that Allergan conduct more tests if it hopes to get its drug approved by the Food and Drug Administration. Shares of Allergan traded down $5.16, or 6.3%, to $76.75.

Other health care volume movers included Pfizer ( PFE), up 54 cents to $34.16; Cardinal Health ( CAH), up 85 cents to $48.35; Johnson & Johnson ( JNJ), up 49 cents to $55.38; Amgen ( AMGN), up 54 cents to $54.52; Schering-Plough ( SGP), up 66 cents to $18.21; and Genentech ( DNA), up 87 cents to $52.24.

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