Teleflex (NYSE:TFX) Issues FY 2024 Earnings Guidance

Teleflex (NYSE:TFX) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 13.800-14.200 for the period, compared to the consensus EPS estimate of 13.730. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.1 billion. Teleflex also updated its FY24 guidance to $13.80-14.20 EPS.

Wall Street Analyst Weigh In

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

Teleflex Price Performance

TFX traded up $11.82 during midday trading on Thursday, hitting $232.74. The company had a trading volume of 407,172 shares, compared to its average volume of 368,833. Teleflex has a twelve month low of $177.63 and a twelve month high of $257.85. The firm’s 50-day simple moving average is $212.93 and its 200-day simple moving average is $221.44. The company has a market capitalization of $10.96 billion, a PE ratio of 38.23, a P/E/G ratio of 2.16 and a beta of 1.13. 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 released its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. The company 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.09 EPS. Equities research analysts predict that Teleflex will post 13.75 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Tuesday, May 14th. Teleflex’s dividend payout ratio (DPR) is currently 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.