Teleflex (NYSE:TFX) Releases FY24 Earnings Guidance

Teleflex (NYSE:TFX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $13.60-13.95 for the period, compared to the consensus EPS estimate of $13.74.

Teleflex Trading Up 2.2 %

TFX stock traded up $4.28 during midday trading on Friday, reaching $203.01. 604,098 shares of the company’s stock traded hands, compared to its average volume of 322,570. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.29. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $262.97. The business has a 50-day moving average price of $217.27 and a two-hundred day moving average price of $226.33. The company has a market capitalization of $9.56 billion, a P/E ratio of 32.59, a PEG ratio of 1.94 and a beta of 1.13.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The business had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. During the same quarter in the previous year, the business posted $3.09 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Teleflex will post 13.72 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Analyst Ratings Changes

Several research firms recently commented on TFX. Truist Financial reduced their price target on Teleflex from $240.00 to $219.00 and set a hold rating on the stock in a research report on Friday. Royal Bank of Canada decreased their target price on shares of Teleflex from $272.00 to $265.00 and set an outperform rating for the company in a research note on Friday, February 23rd. Needham & Company LLC reaffirmed a hold rating on shares of Teleflex in a report on Friday. JMP Securities reiterated a market outperform rating and issued a $285.00 price objective on shares of Teleflex in a report on Friday, February 23rd. Finally, StockNews.com cut shares of Teleflex from a buy rating to a hold rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $261.75.

Insider Transactions at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.