Teleflex Incorporated (NYSE:TFX) to Post Q2 2024 Earnings of $3.34 Per Share, Zacks Research Forecasts

Teleflex Incorporated (NYSE:TFX - Free Report) - Investment analysts at Zacks Research reduced their Q2 2024 EPS estimates for shares of Teleflex in a research report issued to clients and investors on Thursday, May 9th. Zacks Research analyst R. Department now anticipates that the medical technology company will post earnings of $3.34 per share for the quarter, down from their prior forecast of $3.36. The consensus estimate for Teleflex's current full-year earnings is $13.72 per share. Zacks Research also issued estimates for Teleflex's Q3 2024 earnings at $3.41 EPS, Q4 2024 earnings at $3.74 EPS, Q1 2025 earnings at $3.38 EPS, Q3 2025 earnings at $3.83 EPS, FY2025 earnings at $15.02 EPS and Q1 2026 earnings at $3.85 EPS.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The firm had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. During the same quarter in the previous year, the firm earned $3.09 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a research note on Friday, May 3rd. JMP Securities reiterated a "market outperform" rating and issued a $285.00 target price on shares of Teleflex in a research note on Friday, February 23rd. Royal Bank of Canada lowered their target price on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. Finally, Truist Financial decreased their price objective on shares of Teleflex from $240.00 to $219.00 and set a "hold" rating for the company in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Teleflex currently has a consensus rating of "Moderate Buy" and a consensus target price of $261.75.

Teleflex Stock Performance

TFX stock traded down $0.79 during trading on Friday, reaching $203.91. The company had a trading volume of 316,507 shares, compared to its average volume of 352,867. The firm has a 50-day simple moving average of $215.01 and a 200-day simple moving average of $226.55. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 1.95 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 has a twelve month low of $177.63 and a twelve month high of $262.97.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be 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 of this dividend is Tuesday, May 14th. Teleflex's dividend payout ratio (DPR) is 21.83%.

Insider Activity

In other news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 10,050 shares of the company's stock, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.43% of the company's stock.

Institutional Investors Weigh In On Teleflex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company's stock worth $26,000 after acquiring an additional 103 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Teleflex by 75.3% in the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company's stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Teleflex during the first quarter worth $31,000. Venturi Wealth Management LLC purchased a new stake in shares of Teleflex during the third quarter worth $27,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Teleflex by 418.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company's stock worth $35,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

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.