$636.73 Million in Sales Expected for Teleflex Incorporated (TFX) This Quarter
Brokerages expect Teleflex Incorporated (NYSE:TFX) to report $636.73 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Teleflex’s earnings. The highest sales estimate is $637.50 million and the lowest is $635.20 million. Teleflex reported sales of $609.87 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The company is expected to issue its next earnings results on Thursday, August 1st.
On average, analysts expect that Teleflex will report full year sales of $2.58 billion for the current year, with estimates ranging from $2.58 billion to $2.59 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.76 billion, with estimates ranging from $2.75 billion to $2.79 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Teleflex.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Teleflex had a return on equity of 18.62% and a net margin of 7.50%. The firm had revenue of $613.60 million during the quarter, compared to analysts’ expectations of $608.27 million. During the same period in the previous year, the firm earned $2.15 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis.
In other news, VP Cameron P. Hicks sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $288.00, for a total transaction of $576,000.00. Following the completion of the transaction, the vice president now directly owns 4,696 shares of the company’s stock, valued at $1,352,448. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Deren sold 125 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $290.43, for a total value of $36,303.75. Following the transaction, the vice president now directly owns 2,539 shares of the company’s stock, valued at $737,401.77. The disclosure for this sale can be found here. Insiders have sold 38,376 shares of company stock valued at $11,381,818 over the last ninety days. 2.36% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in Teleflex during the first quarter worth about $26,000. One Wealth Advisors LLC bought a new stake in Teleflex during the first quarter worth about $28,000. Meeder Asset Management Inc. bought a new stake in Teleflex during the first quarter worth about $31,000. Cresset Asset Management LLC bought a new stake in Teleflex during the first quarter worth about $35,000. Finally, Quadrant Capital Group LLC raised its holdings in Teleflex by 82.8% during the first quarter. Quadrant Capital Group LLC now owns 117 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.
NYSE:TFX opened at $295.60 on Thursday. Teleflex has a 1 year low of $226.02 and a 1 year high of $309.99. The company has a quick ratio of 1.41, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 1.97 and a beta of 1.01.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.46%. Teleflex’s dividend payout ratio is currently 13.74%.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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