Shares in Teleflex (NYSE:TFX) dropped nearly 4% today, despite a first-quarter 2020 report that revealed Street-beating sales and skyrocketing profits.
The Wayne, Pa.-based surgical and critical care device maker posted profits of $131.15 million, or $2.83 per share on sales of $630.64 million for the three months ended March 29, 2020, for a 220.68% bottom-line gain on a sales drop of 2.8%.
Adjusted to exclude one-time items, earnings per share were $2.83, 48¢ ahead of Wall Street, where analysts were looking for sales of $620.64 million.