Zoll Medical Corp.’s (NSDQ:ZOLL) stock plummeted 27 percent on news that its LifeVest defibrillator might get reduced Medicare reimbursement.
The company posted a booming quarter with a 23 percent bump in sales to $136 million, and a 67 percent jump in earnings to $9.5 million. The boom was driven by the LifeVest system which saw a huge boost, increasing 67 percent and raking in $30 million for the Chelmsford, Mass.-based company.