Teleflex Incorporated (TFX) Releases Earnings Results, Beats Expectations By $0.13 EPS
Teleflex Incorporated (NYSE:TFX) released its earnings results on Thursday. The medical technology company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.13, Bloomberg Earnings reports. The firm had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 13.73% and a net margin of 14.82%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 EPS. Teleflex updated its FY17 guidance to $8.20-8.35 EPS.
Shares of Teleflex (TFX) traded down 1.21% during mid-day trading on Friday, hitting $214.26. The company had a trading volume of 386,731 shares. The company has a market capitalization of $9.64 billion, a PE ratio of 44.47 and a beta of 1.05. Teleflex has a one year low of $136.53 and a one year high of $217.97. The company’s 50-day moving average is $207.61 and its 200 day moving average is $195.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 11th. This represents a $1.36 annualized dividend and a dividend yield of 0.63%. Teleflex’s dividend payout ratio is currently 26.00%.
In other news, VP John Deren sold 2,246 shares of Teleflex stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $194.07, for a total value of $435,881.22. Following the completion of the transaction, the vice president now directly owns 3,989 shares in the company, valued at $774,145.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $199.93, for a total value of $39,986.00. Following the completion of the transaction, the director now owns 8,080 shares of the company’s stock, valued at $1,615,434.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,546 shares of company stock valued at $2,079,856. 2.39% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Asset Planning Services Ltd. acquired a new position in Teleflex during the first quarter valued at approximately $116,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Teleflex during the first quarter valued at approximately $155,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Teleflex during the second quarter valued at approximately $200,000. Finally, Harvey Capital Management Inc. acquired a new position in Teleflex during the second quarter valued at approximately $207,000. Institutional investors own 92.95% of the company’s stock.
A number of research firms have recently weighed in on TFX. Jefferies Group LLC reiterated a “buy” rating and set a $230.00 target price on shares of Teleflex in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating on shares of Teleflex in a research report on Friday. BidaskClub downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Leerink Swann upped their target price on Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $221.17.
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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