Teleflex (NYSE:TFX) Issues FY 2024 Earnings Guidance

Teleflex (NYSE:TFX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 13.900-14.200 for the period, compared to the consensus EPS estimate of 13.970. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.1 billion. Teleflex also updated its FY24 guidance to $13.90-14.20 EPS.

Teleflex Trading Up 5.0 %

NYSE TFX opened at $211.21 on Friday. The stock has a 50-day simple moving average of $239.55 and a 200 day simple moving average of $224.02. The company has a market capitalization of $9.95 billion, a PE ratio of 41.99, a P/E/G ratio of 1.82 and a beta of 1.18. The company has a current ratio of 2.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37. Teleflex has a 12 month low of $190.49 and a 12 month high of $257.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same period in the prior year, the company earned $3.64 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts forecast that Teleflex will post 13.97 EPS for the current year.

Teleflex Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling 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 stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.43% of the company’s stock.

About Teleflex

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.