Teleflex Incorporated (NYSE:TFX) Expected to Post Quarterly Sales of $699.85 Million

Wall Street brokerages expect Teleflex Incorporated (NYSE:TFX) to announce $699.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Teleflex’s earnings. The highest sales estimate is $708.37 million and the lowest is $690.00 million. Teleflex reported sales of $628.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The company is expected to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Teleflex will report full year sales of $2.82 billion for the current fiscal year, with estimates ranging from $2.81 billion to $2.83 billion. For the next fiscal year, analysts expect that the business will post sales of $3.00 billion, with estimates ranging from $2.88 billion to $3.09 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Teleflex.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, July 29th. The medical technology company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.87 by $0.48. Teleflex had a net margin of 13.06% and a return on equity of 17.29%. During the same period in the prior year, the company posted $1.93 EPS.

A number of analysts recently issued reports on TFX shares. SVB Leerink increased their price target on shares of Teleflex from $410.00 to $415.00 and gave the stock a “market perform” rating in a report on Friday, July 30th. Needham & Company LLC initiated coverage on shares of Teleflex in a report on Friday, July 9th. They set a “buy” rating and a $486.00 price objective on the stock. Raymond James initiated coverage on shares of Teleflex in a report on Tuesday, September 7th. They set a “buy” rating and a $440.00 price objective on the stock. KeyCorp decreased their price objective on shares of Teleflex from $448.00 to $439.00 and set an “overweight” rating on the stock in a report on Monday, August 2nd. Finally, JMP Securities reaffirmed a “market outperform” rating on shares of Teleflex in a report on Friday, July 30th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $455.80.

In related news, CEO Liam Kelly sold 8,987 shares of the firm’s stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $376.32, for a total transaction of $3,381,987.84. Following the completion of the sale, the chief executive officer now directly owns 34,762 shares in the company, valued at $13,081,635.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen K. M.D. Klasko sold 3,564 shares of the firm’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $422.55, for a total transaction of $1,505,968.20. Following the sale, the director now owns 4,988 shares of the company’s stock, valued at $2,107,679.40. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of Teleflex by 14.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,672,496 shares of the medical technology company’s stock valued at $2,279,152,000 after acquiring an additional 702,287 shares during the last quarter. BlackRock Inc. increased its position in shares of Teleflex by 1.4% during the first quarter. BlackRock Inc. now owns 5,044,963 shares of the medical technology company’s stock valued at $2,095,981,000 after acquiring an additional 68,241 shares during the last quarter. State Street Corp increased its position in shares of Teleflex by 2.0% during the second quarter. State Street Corp now owns 1,868,614 shares of the medical technology company’s stock valued at $750,790,000 after acquiring an additional 35,984 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Teleflex by 9.8% during the first quarter. Janus Henderson Group PLC now owns 997,221 shares of the medical technology company’s stock valued at $414,307,000 after acquiring an additional 89,000 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Teleflex by 19.8% during the second quarter. Marshall Wace LLP now owns 917,743 shares of the medical technology company’s stock valued at $368,740,000 after acquiring an additional 151,813 shares during the last quarter. Institutional investors and hedge funds own 91.38% of the company’s stock.

NYSE TFX traded up $9.61 during mid-day trading on Tuesday, reaching $387.34. 202,762 shares of the stock were exchanged, compared to its average volume of 252,849. The business’s 50 day moving average is $389.48 and its 200-day moving average is $402.61. Teleflex has a 1 year low of $312.33 and a 1 year high of $449.38. The company has a market capitalization of $18.13 billion, a P/E ratio of 52.27, a P/E/G ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.80 and a current ratio of 2.73.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Monday, August 16th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, August 13th. Teleflex’s dividend payout ratio (DPR) is 12.75%.

Teleflex Company Profile

Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.

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Earnings History and Estimates for Teleflex (NYSE:TFX)

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