Teleflex (NYSE:TFX) Releases FY24 Earnings Guidance

by · The Markets Daily

Teleflex (NYSE:TFX – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $13.90-14.20 for the period, compared to the consensus earnings per share estimate of $13.96. The company issued revenue guidance of +2.9-3.4% yr/yr to $3.06-3.08 billion, compared to the consensus revenue estimate of $3.10 billion. Teleflex also updated its FY 2024 guidance to 13.900-14.200 EPS.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TFX shares. Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday. Royal Bank of Canada reduced their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial upped their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Mizuho cut their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.75.

Get Our Latest Stock Report on Teleflex

Teleflex Trading Up 5.0 %

TFX stock traded up $10.15 during trading on Friday, hitting $211.21. The company had a trading volume of 1,057,520 shares, compared to its average volume of 337,919. The firm has a 50-day moving average price of $239.55 and a 200-day moving average price of $224.02. Teleflex has a 12 month low of $190.49 and a 12 month high of $257.85. The company has a quick ratio of 1.44, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18.

Teleflex (NYSE:TFX – Get Free Report) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.64 earnings per share. As a group, analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

About Teleflex

(Get Free Report)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.

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