Wall Street brokerages expect that Teleflex Incorporated (NYSE:TFX) will report sales of $636.73 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Teleflex’s earnings, with the lowest sales estimate coming in at $635.20 million and the highest estimate coming in at $637.50 million. Teleflex posted sales of $609.87 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The firm is scheduled to report its next quarterly earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Teleflex will report full year sales of $2.58 billion for the current year, with estimates ranging from $2.58 billion to $2.59 billion. For the next year, analysts forecast that the firm will report sales of $2.76 billion, with estimates ranging from $2.75 billion to $2.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Teleflex.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.17 by $0.07. Teleflex had a return on equity of 18.62% and a net margin of 7.50%. The company had revenue of $613.60 million for the quarter, compared to the consensus estimate of $608.27 million. During the same quarter in the prior year, the business earned $2.15 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis.
TFX has been the topic of several research reports. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $325.00 target price (up previously from $300.00) on shares of Teleflex in a research report on Friday, February 22nd. Barclays set a $287.00 target price on Teleflex and gave the company a “hold” rating in a research report on Friday, February 22nd. Zacks Investment Research raised Teleflex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Morgan Stanley upped their target price on Teleflex from $305.00 to $315.00 and gave the company an “overweight” rating in a research report on Tuesday, February 26th. Finally, UBS Group upped their target price on Teleflex to $350.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $326.50.
Teleflex stock opened at $295.60 on Thursday. Teleflex has a 12 month low of $226.02 and a 12 month high of $309.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.41 and a current ratio of 2.27. The company has a market capitalization of $13.57 billion, a PE ratio of 29.86, a PEG ratio of 1.97 and a beta of 1.01.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Tuesday, May 14th. Teleflex’s dividend payout ratio is currently 13.74%.
In related news, Director Benson Smith sold 8,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $300.15, for a total transaction of $2,551,275.00. Following the sale, the director now owns 84,913 shares of the company’s stock, valued at $25,486,636.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Cameron P. Hicks sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $298.14, for a total value of $447,210.00. Following the sale, the vice president now directly owns 6,876 shares in the company, valued at approximately $2,050,010.64. The disclosure for this sale can be found here. Insiders have sold 38,376 shares of company stock worth $11,381,818 in the last three months. 2.36% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of TFX. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Teleflex by 34.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,715 shares of the medical technology company’s stock valued at $518,000 after purchasing an additional 435 shares in the last quarter. One Wealth Advisors LLC acquired a new stake in shares of Teleflex in the 1st quarter valued at $28,000. Morgan Stanley boosted its holdings in shares of Teleflex by 1.8% in the 1st quarter. Morgan Stanley now owns 99,735 shares of the medical technology company’s stock valued at $30,136,000 after purchasing an additional 1,735 shares in the last quarter. Man Group plc boosted its holdings in shares of Teleflex by 77.8% in the 1st quarter. Man Group plc now owns 31,252 shares of the medical technology company’s stock valued at $9,443,000 after purchasing an additional 13,678 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Teleflex by 12.4% in the 1st quarter. M&T Bank Corp now owns 10,714 shares of the medical technology company’s stock valued at $3,238,000 after purchasing an additional 1,178 shares in the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.
Teleflex Company Profile
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
Featured Story: What is the quiet period?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Teleflex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex and related companies with MarketBeat.com's FREE daily email newsletter.