Teleflex Incorporated (TFX) Releases Earnings Results, Beats Estimates By $0.11 EPS
Teleflex Incorporated (NYSE:TFX) posted its earnings results on Thursday. The medical technology company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11, Bloomberg Earnings reports. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm had revenue of $534.70 million during the quarter, compared to analyst estimates of $522.94 million. During the same period last year, the firm posted $1.80 earnings per share. Teleflex’s revenue for the quarter was up 17.3% compared to the same quarter last year. Teleflex updated its FY17 guidance to $8.30-8.40 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, November 14th. Teleflex’s payout ratio is 26.00%.
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A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their target price on shares of Teleflex from $237.00 to $285.00 and gave the company a “buy” rating in a report on Friday. Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Stephens reissued a “buy” rating and issued a $270.00 target price (up from $230.00) on shares of Teleflex in a report on Monday, September 25th. Deutsche Bank AG reissued a “buy” rating and issued a $251.00 target price (up from $238.00) on shares of Teleflex in a report on Monday, September 18th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $253.00 price objective (up from $230.00) on shares of Teleflex in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $266.75.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s 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 directly owns 8,080 shares in the company, valued at approximately $1,710,940. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.39% of the stock is owned by corporate insiders.
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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