Teleflex (NYSE:TFX) Updates FY 2024 Earnings Guidance

Teleflex (NYSE:TFX - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 13.600-13.950 for the period, compared to the consensus 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 Stock Performance

NYSE TFX traded up $4.28 on Friday, reaching $203.01. 508,387 shares of the stock were exchanged, compared to its average volume of 281,471. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. Teleflex has a one year low of $177.63 and a one year high of $262.97. The firm has a market capitalization of $9.56 billion, a PE ratio of 26.96, a PEG ratio of 2.03 and a beta of 1.13. The company's 50-day simple moving average is $217.97 and its two-hundred day simple moving average is $226.02.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results 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 return on equity of 14.98% and a net margin of 11.98%. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same quarter in the prior year, the business posted $3.09 EPS. Teleflex's revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that Teleflex will post 13.73 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex's payout ratio is currently 18.06%.

Analyst Upgrades and Downgrades

TFX has been the topic of several research reports. Needham & Company LLC reaffirmed a hold rating on shares of Teleflex in a report on Friday. JMP Securities reiterated a market outperform rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Truist Financial reduced their price target on shares of 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 decreased their price target on shares of Teleflex from $272.00 to $265.00 and set an outperform rating on the stock in a research note on Friday, February 23rd. Finally, StockNews.com cut shares of Teleflex from a buy rating to a hold rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Teleflex currently has a consensus rating of Moderate Buy and an average target price of $261.75.

Insider Activity at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm'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 of the company's stock, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is currently owned by company insiders.

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.