Teleflex (NYSE:TFX) Updates FY24 Earnings Guidance

Teleflex (NYSE:TFX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $13.60-13.95 for the period, compared to the consensus earnings per share estimate of $13.74.

Teleflex Price Performance

TFX traded up $4.28 during trading on Friday, reaching $203.01. The stock had a trading volume of 604,098 shares, compared to its average volume of 322,570. The business has a 50-day moving average of $217.27 and a 200-day moving average of $226.33. Teleflex has a one year low of $177.63 and a one year high of $262.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 2.51. The stock has a market cap of $9.56 billion, a PE ratio of 32.59, a PEG ratio of 1.94 and a beta of 1.13.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, beating the consensus estimate of $3.07 by $0.14. The firm had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.09 EPS. As a group, equities research analysts anticipate that Teleflex will post 13.72 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, February 29th. Teleflex’s dividend payout ratio is currently 21.83%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com lowered shares of Teleflex from a buy rating to a hold rating in a research report on Friday, February 23rd. Truist Financial reduced their price target on Teleflex from $240.00 to $219.00 and set a hold rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price objective on Teleflex from $272.00 to $265.00 and set an outperform rating for the company in a research report on Friday, February 23rd. Needham & Company LLC restated a hold rating on shares of Teleflex in a report on Friday. Finally, JMP Securities reiterated a market outperform rating and set a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Teleflex currently has an average rating of Moderate Buy and an average price target of $261.75.

Insider Activity

In related news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.43% of the company’s stock.

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.