Teleflex Incorporated Forecasted to Post Q3 2017 Earnings of $1.99 Per Share (TFX)
Teleflex Incorporated (NYSE:TFX) – Stock analysts at Jefferies Group lowered their Q3 2017 EPS estimates for Teleflex in a research report issued on Thursday. Jefferies Group analyst R. Denhoy now expects that the medical technology company will earn $1.99 per share for the quarter, down from their previous estimate of $2.03. Jefferies Group currently has a “Buy” rating and a $230.00 price objective on the stock. Jefferies Group also issued estimates for Teleflex’s FY2017 earnings at $8.22 EPS, Q1 2018 earnings at $2.12 EPS, Q2 2018 earnings at $2.39 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.70 EPS, FY2019 earnings at $10.98 EPS and FY2020 earnings at $12.39 EPS.
Several other equities research analysts have also recently weighed in on TFX. Needham & Company LLC restated a “buy” rating and set a $224.00 target price on shares of Teleflex in a research note on Friday, May 5th. Deutsche Bank AG boosted their target price on Teleflex from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Zacks Investment Research cut Teleflex from a “buy” rating to a “hold” rating in a research note on Saturday, May 20th. Leerink Swann boosted their target price on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research note on Friday, June 9th. Finally, Barclays PLC restated a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $221.17.
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Shares of Teleflex (NYSE:TFX) opened at 214.60 on Monday. The firm’s 50 day moving average is $207.61 and its 200 day moving average is $195.00. Teleflex has a 52-week low of $136.53 and a 52-week high of $216.77. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 44.54 and a beta of 1.05.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million during the quarter, compared to analyst estimates of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pennsylvania Trust Co raised its position in Teleflex by 0.7% in the first quarter. Pennsylvania Trust Co now owns 2,165 shares of the medical technology company’s stock worth $419,000 after buying an additional 15 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Teleflex by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,175 shares of the medical technology company’s stock worth $213,000 after buying an additional 35 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Teleflex by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock worth $1,270,000 after buying an additional 37 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Teleflex by 0.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,560 shares of the medical technology company’s stock worth $1,271,000 after buying an additional 38 shares during the last quarter. Finally, Creative Planning raised its position in Teleflex by 3.7% in the first quarter. Creative Planning now owns 2,259 shares of the medical technology company’s stock worth $438,000 after buying an additional 81 shares during the last quarter. 93.02% of the stock is currently owned by institutional investors and hedge funds.
In other Teleflex news, Director Stuart A. Randle sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total value of $514,175.00. Following the completion of the sale, the director now owns 7,532 shares in the company, valued at $1,549,106.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 8,080 shares of the company’s stock, valued at approximately $1,615,434.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,300 shares of company stock valued at $1,643,975. 2.39% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s dividend payout ratio is currently 26.00%.
Teleflex Company Profile
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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