Equities Analysts Issue Forecasts for Teleflex Incorporated’s Q4 2017 Earnings (TFX)
Teleflex Incorporated (NYSE:TFX) – Analysts at Jefferies Group decreased their Q4 2017 earnings per share estimates for Teleflex in a research report issued on Friday. Jefferies Group analyst R. Denhoy now forecasts that the medical technology company will post earnings per share of $2.35 for the quarter, down from their prior forecast of $2.39. Jefferies Group currently has a “Buy” rating and a $270.00 target price on the stock. Jefferies Group also issued estimates for Teleflex’s Q1 2018 earnings at $2.14 EPS, Q3 2018 earnings at $2.46 EPS, FY2018 earnings at $9.70 EPS, FY2019 earnings at $11.25 EPS and FY2020 earnings at $12.47 EPS.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $518.98 million. During the same period last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis.
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TFX has been the topic of several other reports. Zacks Investment Research cut Teleflex from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Barclays PLC reissued a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Leerink Swann raised Teleflex from a “market perform” rating to an “outperform” rating and increased their price target for the company from $227.00 to $266.00 in a report on Thursday. Deutsche Bank AG reissued a “buy” rating and set a $238.00 price target (up from $220.00) on shares of Teleflex in a report on Wednesday, August 9th. Finally, BidaskClub cut Teleflex from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $246.00.
Shares of Teleflex (NYSE TFX) opened at 232.75 on Monday. The stock has a market capitalization of $10.48 billion, a P/E ratio of 44.51 and a beta of 1.05. Teleflex has a 52-week low of $136.53 and a 52-week high of $235.18. The firm has a 50-day moving average price of $211.66 and a 200-day moving average price of $202.56.
A number of hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC increased its stake in Teleflex by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,708 shares of the medical technology company’s stock worth $1,186,000 after buying an additional 28 shares in the last quarter. Stifel Financial Corp increased its stake in Teleflex by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock worth $1,121,000 after buying an additional 31 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Teleflex by 0.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock worth $1,270,000 after buying an additional 37 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Teleflex by 0.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,560 shares of the medical technology company’s stock worth $1,271,000 after buying an additional 38 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Teleflex by 14.5% in the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock worth $115,000 after buying an additional 70 shares in the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
In other Teleflex news, Director Gretchen R. Haggerty purchased 1,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $211.75, for a total value of $42,350.00. Following the completion of the sale, the director now owns 8,080 shares of the company’s stock, valued at approximately $1,710,940. The disclosure for this sale can be found here. Insiders sold a total of 600 shares of company stock valued at $125,652 in the last quarter. 2.39% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.34 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a yield of 0.58%. Teleflex’s payout ratio is presently 26.00%.
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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