Teleflex (NYSE:TFX) Releases FY24 Earnings Guidance

Teleflex (NYSE:TFX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $13.80-14.20 for the period, compared to the consensus estimate of $13.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TFX shares. Piper Sandler upgraded shares of Teleflex from a neutral rating to an overweight rating and raised their price objective for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Needham & Company LLC reissued a hold rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Truist Financial upped their price objective on Teleflex from $235.00 to $240.00 and gave the stock a hold rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $263.14.

Teleflex Stock Up 7.8 %

NYSE TFX traded up $17.24 during trading hours on Thursday, hitting $238.16. 96,687 shares of the company traded hands, compared to its average volume of 366,721. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.16 and a beta of 1.13. Teleflex has a twelve month low of $177.63 and a twelve month high of $257.85. The business’s 50-day moving average is $212.93 and its 200-day moving average is $221.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.14. The business had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.09 earnings per share. Sell-side analysts anticipate that Teleflex will post 13.75 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. Teleflex’s dividend payout ratio is presently 21.83%.

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.