Teleflex Incorporated (NYSE:TFX) Expected to Earn Q3 2017 Earnings of $2.01 Per Share
Teleflex Incorporated (NYSE:TFX) – Analysts at Leerink Swann raised their Q3 2017 earnings estimates for Teleflex in a note issued to investors on Thursday. Leerink Swann analyst R. Newitter now expects that the medical technology company will post earnings of $2.01 per share for the quarter, up from their previous forecast of $1.99. Leerink Swann currently has a “Market Perform” rating and a $220.00 price objective on the stock. Leerink Swann also issued estimates for Teleflex’s Q4 2017 earnings at $2.46 EPS, FY2017 earnings at $8.32 EPS and FY2018 earnings at $9.45 EPS.
TFX has been the topic of several other reports. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research report on Friday, June 23rd. Deutsche Bank AG increased their price target on shares of Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $224.00 price target on shares of Teleflex in a research report on Friday, May 5th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Teleflex in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $221.17.
Teleflex (TFX) opened at 214.26 on Monday. The firm has a market capitalization of $9.64 billion, a PE ratio of 44.47 and a beta of 1.05. Teleflex has a one year low of $136.53 and a one year high of $217.97. The stock’s 50 day moving average price is $207.61 and its 200 day moving average price is $195.00.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a $0.34 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.36 annualized dividend and a dividend yield of 0.63%. Teleflex’s dividend payout ratio is presently 26.00%.
In other news, Director Stuart A. Randle sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $205.67, for a total value of $514,175.00. Following the sale, the director now directly owns 7,532 shares in the company, valued at $1,549,106.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Deren sold 2,246 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $194.07, for a total transaction of $435,881.22. Following the completion of the sale, the vice president now owns 3,989 shares in the company, valued at $774,145.23. The disclosure for this sale can be found here. Insiders sold 10,546 shares of company stock worth $2,079,856 over the last quarter. Company insiders own 2.39% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC purchased a new stake in shares of Teleflex during the first quarter worth about $877,000. Creative Planning raised its stake in shares of Teleflex by 69.5% in the second quarter. Creative Planning now owns 3,828 shares of the medical technology company’s stock worth $795,000 after buying an additional 1,569 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Teleflex by 118.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 72,560 shares of the medical technology company’s stock worth $11,692,000 after buying an additional 39,419 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Teleflex by 180.0% in the first quarter. Sit Investment Associates Inc. now owns 2,800 shares of the medical technology company’s stock worth $542,000 after buying an additional 1,800 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Teleflex during the first quarter worth about $2,619,000. Institutional investors and hedge funds 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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