Brokers Issue Forecasts for Teleflex Incorporated’s Q3 2017 Earnings (TFX)
Teleflex Incorporated (NYSE:TFX) – Equities research analysts at KeyCorp lifted their Q3 2017 EPS estimates for Teleflex in a research report issued to clients and investors on Thursday. KeyCorp analyst M. Mishan now expects that the medical technology company will earn $2.03 per share for the quarter, up from their previous estimate of $2.01. KeyCorp also issued estimates for Teleflex’s FY2017 earnings at $8.30 EPS and FY2018 earnings at $9.55 EPS.
TFX has been the subject of several other research reports. Barclays PLC reissued a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $228.00 target price for the company in a research note on Friday, June 23rd. Deutsche Bank AG boosted their target price on Teleflex from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Needham & Company LLC reissued a “buy” rating on shares of Teleflex in a research note on Friday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $230.00 target price on shares of Teleflex in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Teleflex has an average rating of “Buy” and a consensus price target of $221.17.
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Shares of Teleflex (NYSE:TFX) opened at 214.26 on Monday. The firm’s 50-day moving average is $207.61 and its 200-day moving average is $195.00. Teleflex has a one year low of $136.53 and a one year high of $217.97. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 44.47 and a beta of 1.05.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. During the same quarter in the prior year, the firm earned $1.89 EPS. The company’s revenue was up 11.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s dividend payout ratio (DPR) is currently 26.00%.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $199.93, for a total transaction of $39,986.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at $1,615,434.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stuart A. Randle sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total value of $514,175.00. Following the sale, the director now owns 7,532 shares in the company, valued at $1,549,106.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,546 shares of company stock worth $2,079,856. Company insiders own 2.39% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Asset Planning Services Ltd. purchased a new stake in Teleflex during the first quarter valued at $116,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Teleflex during the first quarter valued at $155,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Teleflex during the second quarter valued at $200,000. Finally, Harvey Capital Management Inc. purchased a new stake in Teleflex during the second quarter valued at $207,000. Institutional investors own 92.95% of the company’s stock.
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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