Teleflex (NYSE:TFX) Issues FY24 Earnings Guidance

Teleflex (NYSE:TFX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $13.90-14.20 for the period, compared to the consensus earnings per share estimate of $13.96. The company issued revenue guidance of +2.9-3.4% yr/yr to $3.06-3.08 billion, compared to the consensus revenue estimate of $3.10 billion. Teleflex also updated its FY 2024 guidance to 13.900-14.200 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday. Stephens lifted their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada lowered their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.75.

Teleflex Price Performance

Shares of Teleflex stock opened at $211.21 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.44. The business has a 50 day simple moving average of $239.55 and a two-hundred day simple moving average of $224.02. The stock has a market capitalization of $9.95 billion, a P/E ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18. Teleflex has a 12 month low of $190.49 and a 12 month high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The company had revenue of $764.40 million during 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%. Teleflex’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.64 EPS. As a group, analysts predict that Teleflex will post 13.97 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.64%. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Insider Activity at Teleflex

In related 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 value of $638,898.82. Following the sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is currently owned by company 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.