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 company Thoratec sank 12% today after its quarterly results missed Wall Street expectations.  

So what: The stock is up nicely over the past year on solid sales growth, but a wide first-quarter miss -- adjusted EPS of $0.51 on revenue of $117.73 million versus the consensus of $0.46 and $122.9 million -- suggests that growth is slowing. While management maintained its guidance for 2013, the earnings hiccup triggers some concern among analysts over intensifying competition in the U.S.      


Now what: Thoratec still sees full-year adjusted EPS of $1.76-$1.86 on revenue of $490 million-$510 million, in line with Wall Street's view of $1.81 and $503.9 million. "Although we faced some expected challenges in the first quarter, our team is responding well to our near-term priorities while also staying focused on key longer-term growth drivers, giving us confidence in Thoratec's outlook for 2013 and beyond," CEO Gary Burbach reassured investors. More important, with the stock now off about 20% from its 52-week highs and trading at a forward P/E of 15, it might be a decent enough time to buy into that bullishness.    

Interested in more info Thoratec? Add it to your watchlist.

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The article Why Thoratec Shares Tanked originally appeared on Fool.com.

Fool contributor Brian Pacampara has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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 has a disclosure policy.

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