Mindray Medical Shares Plunged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of medical-device maker Mindray Medical (NYS: MR) were feeling ill today, down by as much as 14%, after the company reported quarterly earnings results last night.

So what: Third-quarter revenue added up to $218.4 million, while earnings per share were $0.36. Both figures topped the market expectations of $197.9 in sales and $0.33 in earnings per share, so it's unclear what disappointed investors today.

Now what: To top it off, the company has also authorized a $100 million share-buyback program. All segments posted healthy double-digit growth across the board, with the Medical Imaging Systems segment growing the slowest at 24.5%. Following the results, Nomura Securities has reiterated its Buy rating on Mindray Medical with a $34 price target, citing stronger sales growth.

Interested in more info on Mindray Medical? Add it to yourwatchlist.

At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned. Check out hisholdings and a short bio. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.

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