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.

Teleflex Stock Up 5.0 %

Shares of TFX opened at $211.21 on Friday. The stock has a 50 day moving average price of $239.55 and a 200 day moving average price of $224.02. Teleflex has a one year low of $190.49 and a one year high of $257.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 2.42. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18.

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

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.64%. Teleflex’s payout ratio is 27.04%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TFX. Mizuho dropped their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday. Truist Financial increased their price target on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday. Royal Bank of Canada decreased their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Stephens raised their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.75.

Insider Buying and Selling at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is owned by corporate 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.