Teleflex Incorporated (TFX) Forecasted to Post Q1 2018 Earnings of $2.00 Per Share
Teleflex Incorporated (NYSE:TFX) – Equities researchers at Leerink Swann issued their Q1 2018 earnings estimates for Teleflex in a report released on Tuesday. Leerink Swann analyst R. Newitter expects that the medical technology company will earn $2.00 per share for the quarter. Leerink Swann has a “Outperform” rating and a $266.00 price objective on the stock. Leerink Swann also issued estimates for Teleflex’s Q2 2018 earnings at $2.40 EPS, Q3 2018 earnings at $2.52 EPS and Q4 2018 earnings at $2.67 EPS.
Other equities research analysts also recently issued research reports about the company. Needham & Company LLC raised their target price on Teleflex from $228.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Piper Jaffray Companies began coverage on Teleflex in a report on Friday, November 10th. They issued an “overweight” rating and a $295.00 target price on the stock. Morgan Stanley raised Teleflex from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $220.00 to $274.00 in a report on Wednesday, September 6th. KeyCorp reaffirmed a “hold” rating on shares of Teleflex in a report on Wednesday, September 6th. Finally, Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $261.00 target price on the stock in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $274.44.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.11. The firm had revenue of $534.70 million for the quarter, compared to the consensus estimate of $522.94 million. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its holdings in Teleflex by 7.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 133,455 shares of the medical technology company’s stock worth $32,292,000 after buying an additional 9,399 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Teleflex by 59.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 32,728 shares of the medical technology company’s stock worth $7,919,000 after buying an additional 12,155 shares during the period. IFM Investors Pty Ltd acquired a new position in Teleflex during the 3rd quarter worth about $338,000. Coldstream Capital Management Inc. acquired a new position in Teleflex during the 3rd quarter worth about $226,000. Finally, California Public Employees Retirement System lifted its holdings in Teleflex by 5.3% during the 3rd quarter. California Public Employees Retirement System now owns 102,182 shares of the medical technology company’s stock worth $24,725,000 after buying an additional 5,182 shares during the period. 88.97% of the stock is currently owned by hedge funds and other institutional investors.
In other Teleflex news, CEO Benson Smith sold 2,000 shares of Teleflex stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $258.10, for a total transaction of $516,200.00. Following the transaction, the chief executive officer now directly owns 76,634 shares of the company’s stock, valued at approximately $19,779,235.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $237.18, for a total value of $47,436.00. Following the transaction, the director now directly owns 8,080 shares in the company, valued at $1,916,414.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,600 shares of company stock worth $665,076. 2.39% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is 24.82%.
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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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