Q2 2018 Earnings Estimate for Teleflex Incorporated (TFX) Issued By Jefferies Group
Teleflex Incorporated (NYSE:TFX) – Equities researchers at Jefferies Group reduced their Q2 2018 earnings per share (EPS) estimates for shares of Teleflex in a note issued to investors on Thursday. Jefferies Group analyst R. Denhoy now forecasts that the medical technology company will post earnings of $2.31 per share for the quarter, down from their previous estimate of $2.33. Jefferies Group currently has a “Buy” rating and a $295.00 price target on the stock. Jefferies Group also issued estimates for Teleflex’s Q4 2018 earnings at $2.87 EPS.
Other equities research analysts also recently issued research reports about the company. Needham & Company LLC increased their price objective on Teleflex from $228.00 to $237.00 and gave the company a “buy” rating in a research report on Tuesday, September 5th. Morgan Stanley upgraded Teleflex from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $220.00 to $274.00 in a research report on Wednesday, September 6th. KeyCorp reiterated a “hold” rating on shares of Teleflex in a research report on Wednesday, September 6th. Barclays PLC reiterated an “overweight” rating and set a $253.00 price objective (up previously from $230.00) on shares of Teleflex in a research report on Tuesday, September 12th. Finally, Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $261.00 price objective for the company in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $271.88.
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Shares of Teleflex (NYSE:TFX) traded down $0.34 during trading hours on Monday, hitting $256.08. The stock had a trading volume of 34,285 shares, compared to its average volume of 232,739. The company has a market cap of $11,551.08, a price-to-earnings ratio of 31.69, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a current ratio of 4.72, a quick ratio of 3.70 and a debt-to-equity ratio of 0.88.
Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The company had revenue of $534.70 million during the quarter, compared to the consensus estimate of $522.94 million. During the same quarter in the prior year, the firm earned $1.80 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of Teleflex by 14.5% in the second quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 70 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Teleflex by 933.8% in the second quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock worth $172,000 after acquiring an additional 747 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Teleflex in the second quarter worth $175,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Teleflex in the second quarter worth $200,000. Finally, Calamos Advisors LLC acquired a new position in shares of Teleflex in the second quarter worth $206,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $237.18, for a total value of $47,436.00. Following the completion of the sale, the director now owns 8,080 shares in the company, valued at $1,916,414.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 600 shares of company stock valued at $138,162 in the last 90 days. Corporate insiders own 2.39% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.53%. Teleflex’s payout ratio is currently 24.82%.
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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