Equities analysts expect that Teleflex Incorporated (NYSE:TFX) will announce sales of $524.15 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Teleflex’s earnings, with the highest sales estimate coming in at $530.90 million and the lowest estimate coming in at $519.59 million. Teleflex posted sales of $455.65 million in the same quarter last year, which would indicate a positive year over year growth rate of 15%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that Teleflex will report full year sales of $524.15 million for the current financial year, with estimates ranging from $2.09 billion to $2.16 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.36 billion per share, with estimates ranging from $2.22 billion to $2.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Teleflex.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The company had revenue of $528.60 million during the quarter, compared to analyst estimates of $518.98 million. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Teleflex’s revenue was up 11.6% on a year-over-year basis.
Several brokerages recently issued reports on TFX. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Stephens reissued a “buy” rating and set a $270.00 target price (up previously from $230.00) on shares of Teleflex in a research note on Monday, September 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $251.00 price objective (up previously from $238.00) on shares of Teleflex in a research note on Monday, September 18th. Barclays PLC reaffirmed an “overweight” rating and issued a $253.00 price objective (up previously from $230.00) on shares of Teleflex in a research note on Tuesday, September 12th. Finally, Leerink Swann raised Teleflex from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $227.00 to $266.00 in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $260.75.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of the sale, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,683,952.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 600 shares of company stock valued at $132,408. 2.39% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atlanta Capital Management Co. L L C raised its position in Teleflex by 2.6% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,519,464 shares of the medical technology company’s stock valued at $523,444,000 after purchasing an additional 64,985 shares in the last quarter. Janus Henderson Group PLC raised its position in Teleflex by 50,429.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock valued at $377,296,000 after purchasing an additional 1,812,426 shares in the last quarter. State Street Corp raised its position in Teleflex by 1.8% during the 2nd quarter. State Street Corp now owns 1,399,922 shares of the medical technology company’s stock valued at $290,853,000 after purchasing an additional 25,401 shares in the last quarter. Koch Industries Inc. raised its position in Teleflex by 47,174.3% during the 2nd quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock valued at $955,000 after purchasing an additional 957,639 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Teleflex by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 839,080 shares of the medical technology company’s stock valued at $174,327,000 after purchasing an additional 155,863 shares in the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.
Shares of Teleflex (NYSE TFX) traded up 0.41% on Friday, hitting $242.98. The stock had a trading volume of 21,061 shares. Teleflex has a 52 week low of $136.53 and a 52 week high of $248.68. The stock has a market capitalization of $10.94 billion, a P/E ratio of 46.47 and a beta of 1.07. The firm has a 50-day moving average price of $236.75 and a 200-day moving average price of $212.34.
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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