Zacks: Brokerages Expect Teleflex Incorporated (TFX) Will Post Quarterly Sales of $601.67 Million
Wall Street brokerages expect that Teleflex Incorporated (NYSE:TFX) will post $601.67 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Teleflex’s earnings. The highest sales estimate is $605.30 million and the lowest is $598.50 million. Teleflex posted sales of $513.93 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The firm is expected to issue its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Teleflex will report full year sales of $601.67 million for the current year, with estimates ranging from $2.15 billion to $2.16 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.43 billion per share, with estimates ranging from $2.41 billion to $2.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Teleflex.
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 analysts’ consensus estimates of $2.01 by $0.11. The company 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 firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.80 EPS.
TFX has been the topic of a number of research reports. Needham & Company LLC upped 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. KeyCorp restated a “hold” rating on shares of Teleflex in a report on Wednesday, September 6th. Morgan Stanley upgraded Teleflex from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $274.00 in a report on Wednesday, September 6th. Leerink Swann upgraded Teleflex from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $227.00 to $266.00 in a report on Thursday, September 7th. Finally, Jefferies Group increased their price objective on Teleflex from $253.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, September 8th. One investment 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $274.44.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $265.32, for a total value of $53,064.00. Following the transaction, the director now owns 8,080 shares in the company, valued at $2,143,785.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Benson Smith sold 2,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $258.10, for a total value of $516,200.00. Following the transaction, the chief executive officer now owns 76,634 shares in the company, valued at approximately $19,779,235.40. The disclosure for this sale can be found here. Insiders sold 2,400 shares of company stock worth $616,700 in the last 90 days. 2.39% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank grew its holdings in Teleflex by 14.5% during the second quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 70 shares during the last quarter. Advisory Services Network LLC grew its holdings in Teleflex by 933.8% during the second quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after purchasing an additional 747 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Teleflex in the second quarter valued at approximately $175,000. Calamos Advisors LLC bought a new stake in shares of Teleflex in the second quarter valued at approximately $206,000. Finally, Archford Capital Strategies LLC boosted its position in shares of Teleflex by 29,025.0% in the second quarter. Archford Capital Strategies LLC now owns 1,165 shares of the medical technology company’s stock valued at $217,000 after acquiring an additional 1,161 shares during the period. Institutional investors own 88.97% of the company’s stock.
Shares of Teleflex (NYSE TFX) traded down $2.69 on Monday, hitting $248.82. The stock had a trading volume of 176,500 shares, compared to its average volume of 262,788. The firm has a market cap of $11,209.16, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 2.13 and a beta of 1.09. Teleflex has a one year low of $157.80 and a one year high of $271.23. The company has a quick ratio of 3.70, a current ratio of 4.72 and a debt-to-equity ratio of 0.88.
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 $0.34 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. Teleflex’s dividend 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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