Teleflex (NYSE:TFX) Releases FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TFX. StockNews.com lowered Teleflex from a buy rating to a hold rating in a report on Friday, February 23rd. Royal Bank of Canada decreased their target price 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. JMP Securities reissued a market outperform rating and issued a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Truist Financial cut their price objective on shares of Teleflex from $240.00 to $219.00 and set a hold rating on the stock in a report on Friday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Teleflex in a report on Friday. 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, Teleflex presently has a consensus rating of Moderate Buy and an average price target of $261.75.

Teleflex Price Performance

TFX stock traded up $4.28 during mid-day trading on Friday, reaching $203.01. The company’s stock had a trading volume of 604,098 shares, compared to its average volume of 322,570. The company has a current ratio of 2.51, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $217.27 and its two-hundred day moving average is $226.33. The stock has a market cap of $9.56 billion, a PE ratio of 32.59, a P/E/G ratio of 1.94 and a beta of 1.13. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $262.97.

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

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio is currently 21.83%.

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is owned by company insiders.

About Teleflex

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.