Teleflex (NYSE: TFX) + shares took a hit today despite fourth-quarter results that came in ahead of the consensus forecast.
Shares of TFX fell 4.6% at $239.36 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose slightly.
The Wayne, Pennsylvania-based company posted profits of $31.1 million in the quarter. That amounts to 66¢ per share on sales of $773.9 million for the three months ended Dec. 31, 2023. Teleflex recorded a 60.4% bottom-line slide on sales growth of 2.1%.
Adjusted to exclude one-time items, earnings per share totaled $3.38, landing 12¢ ahead of Wall Street projections. Sales also beat the forecasts as analysts anticipated $768.7 million in revenue.
Teleflex reported significant growth in its OEM (12.1%), Interventional (8.5%) and Interventional Urology (4.3%) segments.
“We demonstrat…