Teleflex Incorporated to Post Q3 2017 Earnings of $1.99 Per Share, Jefferies Group Forecasts (NYSE:TFX)
Teleflex Incorporated (NYSE:TFX) – Investment analysts at Jefferies Group dropped their Q3 2017 earnings estimates for Teleflex in a research note issued to investors on Thursday. Jefferies Group analyst R. Denhoy now expects that the medical technology company will post earnings of $1.99 per share for the quarter, down from their prior forecast of $2.03. Jefferies Group has a “Buy” rating and a $230.00 price objective on the stock. Jefferies Group also issued estimates for Teleflex’s FY2017 earnings at $8.22 EPS, Q1 2018 earnings at $2.12 EPS, Q2 2018 earnings at $2.39 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.70 EPS, FY2019 earnings at $10.98 EPS and FY2020 earnings at $12.39 EPS.
Teleflex (NYSE:TFX) last issued its quarterly earnings results 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. The business had revenue of $528.60 million during 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share.
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Several other brokerages have also recently issued reports on TFX. Needham & Company LLC reissued a “buy” rating on shares of Teleflex in a report on Friday. BidaskClub cut Teleflex from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC reissued a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a report on Friday, June 23rd. Finally, Deutsche Bank AG boosted their price objective on Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $221.17.
Shares of Teleflex (NYSE TFX) opened at 214.26 on Monday. The firm has a 50-day moving average price of $207.61 and a 200-day moving average price of $195.00. The stock has a market cap of $9.64 billion, a PE ratio of 44.47 and a beta of 1.05. Teleflex has a 12 month low of $136.53 and a 12 month high of $217.97.
Several institutional investors have recently made changes to their positions in TFX. Asset Planning Services Ltd. acquired a new position in shares of Teleflex during the first quarter valued at $116,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Teleflex during the first quarter valued at $155,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of 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 in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Teleflex during the second quarter valued at $200,000. Finally, Harvey Capital Management Inc. acquired a new position in shares of Teleflex during the second quarter valued at $207,000. Hedge funds and other institutional investors own 92.95% of the company’s stock.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $199.93, for a total value of $39,986.00. Following the completion of the transaction, the director now owns 8,080 shares in the company, valued at approximately $1,615,434.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John Deren sold 2,246 shares of Teleflex stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $194.07, for a total value of $435,881.22. Following the completion of the transaction, the vice president now owns 3,989 shares of the company’s stock, valued at approximately $774,145.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,546 shares of company stock valued at $2,079,856. 2.39% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend 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%.
Teleflex Company Profile
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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