Teleflex (NYSE:TFX) Updates 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.

Analyst Upgrades and Downgrades

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

Teleflex Stock Performance

TFX traded up $4.28 during trading on Friday, hitting $203.01. The stock had a trading volume of 604,098 shares, 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. The company has a 50 day moving average price of $217.27 and a 200-day moving average price of $226.33. Teleflex has a one year low of $177.63 and a one year high of $262.97. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.94 and a beta of 1.13.

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

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. Teleflex’s dividend payout ratio is presently 21.83%.

Insider Activity

In related news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares of the company’s stock, valued at $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.43% of the stock is owned by company insiders.

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.