UFP Technologies Inc's stock surged 5.18% during early trading on Wednesday, following the release of its quarterly earnings report that exceeded analyst expectations.
The medical equipment company reported adjusted earnings of $2.25 per share for the quarter ended December 31, beating the mean analyst estimate of $2.09 per share. Revenue also increased by 3.4% year-over-year to $148.92 million, demonstrating continued growth despite challenging market conditions.
Analysts maintain a positive outlook on the stock with an average "buy" rating and a median 12-month price target of $329.50, representing significant upside potential from current levels. The company has consistently beaten earnings estimates in recent quarters, contributing to investor confidence and the stock's strong performance this quarter.
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