Teleflex Incorporated (TFX) Expected to Post Quarterly Sales of $601.50 Million
Wall Street analysts expect that Teleflex Incorporated (NYSE:TFX) will announce $601.50 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Teleflex’s earnings, with the lowest sales estimate coming in at $598.50 million and the highest estimate coming in at $605.30 million. Teleflex posted sales of $513.93 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Teleflex will report full-year sales of $601.50 million for the current financial year, with estimates ranging from $2.15 billion to $2.16 billion. For the next year, analysts forecast that the business will report sales of $2.43 billion per share, with estimates ranging from $2.41 billion to $2.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Teleflex.
TFX has been the subject of a number of research analyst reports. Leerink Swann restated a “buy” rating and issued a $321.00 target price (up previously from $307.00) on shares of Teleflex in a research note on Tuesday, January 30th. Stephens restated a “buy” rating and issued a $300.00 target price on shares of Teleflex in a research note on Thursday, January 18th. Jefferies Group raised their target price on Teleflex from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Needham & Company LLC raised their target price on Teleflex from $237.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, Morgan Stanley raised their price objective on Teleflex from $274.00 to $290.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $283.89.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Friday, December 1st. The stock was sold at an average price of $265.32, for a total value of $53,064.00. Following the completion of the sale, the director now owns 8,080 shares of the company’s stock, valued at approximately $2,143,785.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George Babich, Jr. sold 2,500 shares of Teleflex stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $263.38, for a total value of $658,450.00. Following the completion of the sale, the director now directly owns 10,583 shares of the company’s stock, valued at approximately $2,787,350.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,100 shares of company stock valued at $2,671,994. 2.39% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of TFX. American Century Companies Inc. increased its holdings in shares of Teleflex by 41.6% in the 3rd quarter. American Century Companies Inc. now owns 1,187,909 shares of the medical technology company’s stock worth $287,438,000 after purchasing an additional 348,829 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Teleflex in the 4th quarter worth $53,163,000. Renaissance Technologies LLC increased its holdings in shares of Teleflex by 511.6% in the 4th quarter. Renaissance Technologies LLC now owns 195,700 shares of the medical technology company’s stock worth $48,694,000 after purchasing an additional 163,700 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Teleflex by 3.4% in the 4th quarter. BlackRock Inc. now owns 4,709,341 shares of the medical technology company’s stock worth $1,171,779,000 after purchasing an additional 156,527 shares in the last quarter. Finally, Redmile Group LLC increased its holdings in shares of Teleflex by 449.9% in the 4th quarter. Redmile Group LLC now owns 172,486 shares of the medical technology company’s stock worth $42,918,000 after purchasing an additional 141,121 shares in the last quarter. 88.98% of the stock is owned by institutional investors and hedge funds.
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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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