Shares of Cantel Medical ( CMN) were among the declining health-related stocks Thursday, falling 5% after the medical-device maker posted second-quarter results that fell below Wall Street expectations. The company earned $3.9 million, or 24 cents a share, on sales of $61.6 million. Excluding items, the company earned 25 cents a share. Analysts polled by Thomson First Call expected earnings of 27 cents a share, before items, and sales of $64.8 million. During the year-earlier period, the company earned $3.9 million, or 24 cents a share, on sales of $49.5 million. Excluding items, the company earned 20 cents a share in the year-earlier period. Cantel shares were down 75 cents to $15.83. Dyax ( DYAX) tumbled 9% after the biotherapeutics company priced 5.5 million shares of stock, raising about $30 million. The company sold the shares at $5.65 apiece, a 9% discount to Wednesday's closing price of $6.20. The company plans to use proceeds from the sale for research and development and for general corporate needs. The sale is expected to close on or about March 14. Shares were trading down 53 cents to $5.67. Shares of AMN Healthcare Services ( AHS) recently were down 6% even after the health care staffing company posted better-than-expected fourth-quarter results. The company earned $7 million, or 21 cents a share. Excluding items, the company earned 24 cents a share, beating analysts' mean estimate by 4 cents. Revenue totaled $221.4 million, compared with Wall Street's forecast of $214.3 million. A year earlier, the company earned $4.5 million, or 14 cents a share, on revenue of $158.3 million. Looking ahead, AMN Healthcare sees adjusted first-quarter earnings, which excludes stock-based compensation costs and one-time items, of 20 cents to 22 cents a share. The company predicts revenue of $248 million to $252 million. Analysts project earnings of 21 cents a share on revenue of $239 million. Shares were down $1.24 to $19.14.
Rehabcare Group ( RHB) fell 6% after the rehabilitation-program management services company posted fourth-quarter earnings that fell below forecasts. The company posted a loss of $31.8 million, or $1.89 a share. The results were hurt by one-time items totaling $2.15 a share. Excluding items, the company earned 26 cents a share, short of analysts' forecast of 32 cents a share. Rehabcare's revenue of $123.4 million matched Wall Street's projection. During the year-earlier quarter, the company earned $6.3 million, or 37 cents a share, on revenue of $95.1 million. The company said that due to regulatory uncertainty, it won't be giving guidance for 2006. Shares were trading down $1.15 to $19.38. Shares of Hi-Tech Pharmacal ( HITK) jumped 12% after the drugmaker posted third-quarter results that pleased investors. The company earned $4.9 million, or 36 cents a share, on sales of $22.9 million. A single analyst was expecting earnings of 27 cents a share on sales of $23.8 million. During the year-earlier period, the company earned $3.2 million, or 25 cents a share, on sales of $21.2 million. "We are pleased with the third quarter results. Strong sales of both recently introduced and core generic products helped offset slower demand for our cough and cold products caused by a relatively mild winter season," the company said. Shares were up $2.98 to $26.96. Other health care volume movers included Elan ( ELN), down 62 cents to $15.19; Pfizer ( PFE), up 5 cents to $26.22; Boston Scientific ( BSX), down 19 cents to $22.77; Biogen Idec ( BIIB), up $2.18 to $47.69; Johnson & Johnson ( JNJ), down 38 cents to $58.36; Amgen ( AMGN), down 45 cents to $73.75; Generex Biotech ( GNBT), up 6 cents to $2.18; Schering-Plough ( SGP), down 23 cents to $18.09; Novavax ( NVAX), up16 cents to $5.54; Merck ( MRK), down 18 cents to $34.50; and Bristol-Myers Squibb ( BMY), down 8 cents to $22.75.