Teleflex (NYSE:TFX) Issues FY 2024 Earnings Guidance

Teleflex (NYSE:TFX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 13.900-14.200 for the period, compared to the consensus estimate of 13.970. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.1 billion. Teleflex also updated its FY24 guidance to $13.90-14.20 EPS.

Teleflex Stock Up 5.0 %

Shares of NYSE:TFX traded up $10.15 during trading on Friday, hitting $211.21. 1,057,520 shares of the company were exchanged, compared to its average volume of 337,919. Teleflex has a fifty-two week low of $190.49 and a fifty-two week high of $257.85. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 41.99, a P/E/G ratio of 1.82 and a beta of 1.18. The company has a current ratio of 2.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $239.55 and a two-hundred day moving average price of $223.93.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.64 earnings per share. As a group, research analysts anticipate that Teleflex will post 13.97 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is currently 27.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TFX shares. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday. Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday. Truist Financial increased their price objective on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada reduced their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and an average price target of $262.75.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.43% of the company’s stock.

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.