ZOLL Medical Shares Popped: What You Need to Know
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 defibrillation and CPR-gear specialist Zoll Medical (NAS: ZOLL) climbed as high as 10.1% today on fairly big trading volume.
So what: This stock plunged face-first on Monday due to a dire new risk outlined in the freshly filed 10-Q: LifeVest products might not get the wide market access they were expected to gain. Today, Zoll executives took part in a conference call arranged by Jefferies to calm frazzled investor nerves -- and it looks like it worked to some degree.
Now what: I don't know what was said during that fateful call, but the bulk of today's climb started along with the phone action and ended when they hung up. Whatever the message -- nitpicked by a supposedly independent doctor selected by Jefferies -- ZOLL is still set to close the week some 22% lower. And before writing that off as just getting caught in the general market panic, consider that sector rivals Medtronic (NYS: MDT) , CONMED (NAS: CNMD) , and Boston Scientific (NYS: BSX) all dropped about half as far. On the other hand, ZOLL investors have already ridden the LifeVest to 86% gains over the last year.
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At the time this article was published Fool contributor Anders Bylund holds no position in any of the companies discussed here. The Motley Fool owns shares of Medtronic. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.
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