Q3 2017 Earnings Forecast for Teleflex Incorporated (TFX) Issued By Leerink Swann
Teleflex Incorporated (NYSE:TFX) – Stock analysts at Leerink Swann boosted their Q3 2017 earnings per share estimates for Teleflex in a research report issued to clients and investors on Thursday. Leerink Swann analyst R. Newitter now anticipates that the medical technology company will earn $2.02 per share for the quarter, up from their previous estimate of $2.01. Leerink Swann has a “Outperform” rating on the stock. Leerink Swann also issued estimates for Teleflex’s Q4 2017 earnings at $2.47 EPS, FY2017 earnings at $8.33 EPS, FY2018 earnings at $9.64 EPS and FY2019 earnings at $10.70 EPS.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a research note on Friday, June 23rd. Barclays PLC reissued a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Morgan Stanley raised Teleflex from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $220.00 to $274.00 in a research note on Wednesday. Deutsche Bank AG reissued a “buy” rating and set a $238.00 price objective (up from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Teleflex in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $237.00.
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Teleflex (NYSE TFX) opened at 227.14 on Friday. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 43.44 and a beta of 1.05. Teleflex has a 52-week low of $136.53 and a 52-week high of $228.83. The company’s 50-day moving average price is $211.09 and its 200 day moving average price is $202.34.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.13. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The business had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. During the same period last year, the company earned $1.89 EPS. Teleflex’s revenue for the quarter was up 11.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.60%. Teleflex’s dividend payout ratio is 26.00%.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $211.75, for a total transaction of $42,350.00. Following the transaction, the director now owns 8,080 shares of the company’s stock, valued at $1,710,940. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gretchen R. Haggerty bought 1,000 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $203.82 per share, for a total transaction of $203,820.00. Following the purchase, the director now owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 600 shares of company stock worth $125,652. Insiders own 2.39% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its stake in shares of Teleflex by 0.5% during the second quarter. Neuberger Berman Group LLC now owns 5,708 shares of the medical technology company’s stock valued at $1,186,000 after buying an additional 28 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Teleflex by 0.6% during the second quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock valued at $1,121,000 after buying an additional 31 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Teleflex by 0.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock valued at $1,270,000 after buying an additional 37 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Teleflex by 0.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,560 shares of the medical technology company’s stock valued at $1,271,000 after buying an additional 38 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Teleflex by 14.5% during the second quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after buying an additional 70 shares during the last quarter. 90.50% of the stock is currently owned by hedge funds and other institutional investors.
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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