Wall Street analysts forecast that Teleflex Incorporated (NYSE:TFX) will report $2.41 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for Teleflex’s earnings. The lowest EPS estimate is $2.36 and the highest is $2.46. Teleflex posted earnings of $2.12 per share in the same quarter last year, which would suggest a positive year over year growth rate of 13.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Teleflex will report full-year earnings of $9.82 per share for the current financial year, with EPS estimates ranging from $9.71 to $9.89. For the next fiscal year, analysts anticipate that the firm will post earnings of $11.38 per share, with EPS estimates ranging from $11.11 to $11.74. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Teleflex.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 2nd. The medical technology company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.06. Teleflex had a return on equity of 17.32% and a net margin of 3.78%. The business had revenue of $609.87 million for the quarter, compared to analyst estimates of $615.97 million. During the same period last year, the company earned $2.04 EPS. Teleflex’s revenue for the quarter was up 15.4% compared to the same quarter last year.
TFX has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on Teleflex from $298.00 to $279.00 and set a “buy” rating for the company in a report on Friday, August 3rd. Leerink Swann increased their price objective on Teleflex from $309.00 to $317.00 and gave the stock an “outperform” rating in a report on Tuesday, June 5th. Morgan Stanley dropped their price objective on Teleflex from $310.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, August 3rd. ValuEngine cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, TheStreet cut Teleflex from a “b” rating to a “c+” rating in a report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Teleflex currently has an average rating of “Buy” and a consensus price target of $286.56.
NYSE TFX traded up $3.11 on Thursday, hitting $270.43. The company’s stock had a trading volume of 455,637 shares, compared to its average volume of 301,417. Teleflex has a 52-week low of $227.52 and a 52-week high of $288.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 2.21. The stock has a market cap of $12.02 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Wednesday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.50%. The ex-dividend date was Tuesday, August 14th. Teleflex’s dividend payout ratio (DPR) is currently 16.19%.
In other news, CFO Thomas E. Powell sold 5,200 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $240.02, for a total value of $1,248,104.00. Following the completion of the transaction, the chief financial officer now owns 15,351 shares in the company, valued at approximately $3,684,547.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Benson Smith sold 9,331 shares of the firm’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $275.32, for a total value of $2,569,010.92. Following the completion of the transaction, the director now owns 77,887 shares of the company’s stock, valued at approximately $21,443,848.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,524 shares of company stock valued at $17,827,593. Company insiders own 2.56% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Summit Trail Advisors LLC lifted its stake in shares of Teleflex by 23,599.0% in the 1st quarter. Summit Trail Advisors LLC now owns 1,181,159 shares of the medical technology company’s stock valued at $1,181,000 after purchasing an additional 1,176,175 shares during the period. Marshall Wace LLP lifted its stake in shares of Teleflex by 1,177.7% in the 2nd quarter. Marshall Wace LLP now owns 342,631 shares of the medical technology company’s stock valued at $91,897,000 after purchasing an additional 315,814 shares during the period. BlackRock Inc. lifted its stake in shares of Teleflex by 4.9% in the 1st quarter. BlackRock Inc. now owns 4,940,818 shares of the medical technology company’s stock valued at $1,259,811,000 after purchasing an additional 231,477 shares during the period. Jennison Associates LLC purchased a new position in shares of Teleflex in the 2nd quarter valued at approximately $60,706,000. Finally, USS Investment Management Ltd lifted its stake in shares of Teleflex by 44.9% in the 1st quarter. USS Investment Management Ltd now owns 579,590 shares of the medical technology company’s stock valued at $155,310,000 after purchasing an additional 179,600 shares during the period. Institutional investors own 88.85% of the company’s stock.
Teleflex Company Profile
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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