Teleflex (NYSE:TFX) Issues FY24 Earnings Guidance

Teleflex (NYSE:TFX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $13.60-13.95 for the period, compared to the consensus estimate of $13.74.

Teleflex Trading Up 2.2 %

Shares of NYSE TFX traded up $4.28 during midday trading on Friday, reaching $203.01. The company had a trading volume of 604,098 shares, compared to its average volume of 322,570. The firm’s fifty day moving average price is $217.27 and its 200-day moving average price is $226.33. The company has a quick ratio of 1.29, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. Teleflex has a one year low of $177.63 and a one year high of $262.97. The stock has a market cap of $9.56 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The firm had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same quarter in the prior year, the firm posted $3.09 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Teleflex will post 13.72 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. Teleflex’s payout ratio is presently 21.83%.

Analysts Set New Price Targets

TFX has been the topic of several recent analyst reports. StockNews.com cut shares of Teleflex from a buy rating to a hold rating in a report on Friday, February 23rd. JMP Securities reiterated a market outperform rating and issued a $285.00 price objective on shares of Teleflex in a report on Friday, February 23rd. Truist Financial decreased their price target on shares of Teleflex from $240.00 to $219.00 and set a hold rating for the company in a research note on Friday. Needham & Company LLC reissued a hold rating on shares of Teleflex in a research note on Friday. Finally, Royal Bank of Canada reduced their price target on shares of Teleflex from $272.00 to $265.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $261.75.

Insider Activity at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the transaction, the vice president now owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by corporate insiders.

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. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.