Teleflex (NYSE:TFX) Issues FY24 Earnings Guidance

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

Teleflex Price Performance

Shares of NYSE:TFX traded up $4.28 during trading on Friday, hitting $203.01. 604,098 shares of the company were exchanged, compared to its average volume of 322,570. The company has a quick ratio of 1.29, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. Teleflex has a 1-year low of $177.63 and a 1-year high of $262.97. The company has a market capitalization of $9.56 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13. The business’s 50 day moving average is $217.27 and its 200-day moving average is $226.33.

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

Teleflex Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on Tuesday, March 5th. The shares were 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 owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Teleflex Company Profile

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.