Brokerages Expect Teleflex Incorporated (TFX) Will Announce Quarterly Sales of $609.31 Million

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Brokerages forecast that Teleflex Incorporated (NYSE:TFX) will announce $609.31 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Teleflex’s earnings. The lowest sales estimate is $605.50 million and the highest is $610.60 million. Teleflex posted sales of $534.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Teleflex will report full-year sales of $2.46 billion for the current financial year, with estimates ranging from $2.45 billion to $2.46 billion. For the next fiscal year, analysts expect that the company will post sales of $2.63 billion, with estimates ranging from $2.60 billion to $2.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Teleflex.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 2nd. The medical technology company reported $2.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.41 by $0.06. Teleflex had a net margin of 3.78% and a return on equity of 17.32%. The company had revenue of $609.87 million during the quarter, compared to the consensus estimate of $615.97 million. During the same quarter last year, the company earned $2.04 earnings per share. Teleflex’s revenue for the quarter was up 15.4% on a year-over-year basis.

Several analysts have issued reports on TFX shares. ValuEngine downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Needham & Company LLC reduced their target price on Teleflex from $298.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. Morgan Stanley reduced their target price on Teleflex from $310.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, August 3rd. TheStreet cut Teleflex from a “b” rating to a “c+” rating in a research note on Friday, August 3rd. Finally, Barclays assumed coverage on Teleflex in a research note on Monday. They set an “equal weight” rating and a $266.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $286.67.

In other news, Director Benson Smith sold 9,331 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $241.84, for a total transaction of $2,256,609.04. Following the completion of the transaction, the director now directly owns 77,887 shares in the company, valued at approximately $18,836,192.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thomas E. Powell sold 5,200 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $269.64, for a total value of $1,402,128.00. Following the transaction, the insider now owns 12,432 shares of the company’s stock, valued at $3,352,164.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,159 shares of company stock valued at $22,836,943. Company insiders own 2.56% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Oakbrook Investments LLC lifted its stake in Teleflex by 36.1% during the third quarter. Oakbrook Investments LLC now owns 5,275 shares of the medical technology company’s stock worth $1,404,000 after purchasing an additional 1,400 shares during the last quarter. Aperio Group LLC lifted its stake in Teleflex by 5.2% during the third quarter. Aperio Group LLC now owns 14,874 shares of the medical technology company’s stock worth $3,958,000 after purchasing an additional 740 shares during the last quarter. Davis R M Inc. lifted its stake in Teleflex by 22.8% during the third quarter. Davis R M Inc. now owns 76,213 shares of the medical technology company’s stock worth $20,280,000 after purchasing an additional 14,139 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Teleflex by 11.8% during the third quarter. Nisa Investment Advisors LLC now owns 20,871 shares of the medical technology company’s stock worth $5,554,000 after purchasing an additional 2,206 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Teleflex by 12.7% during the third quarter. Raymond James Trust N.A. now owns 1,877 shares of the medical technology company’s stock worth $500,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Shares of NYSE:TFX opened at $245.22 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.21 and a quick ratio of 1.45. Teleflex has a 52-week low of $227.52 and a 52-week high of $288.78. The company has a market capitalization of $12.19 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.87 and a beta of 1.12.

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. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.

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