Teleflex Incorporated (TFX) Expected to Post Quarterly Sales of $608.38 Million

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Brokerages expect Teleflex Incorporated (NYSE:TFX) to report sales of $608.38 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Teleflex’s earnings, with the highest sales estimate coming in at $612.51 million and the lowest estimate coming in at $606.60 million. Teleflex reported sales of $587.23 million in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 2nd.

On average, analysts expect that Teleflex will report full-year sales of $2.58 billion for the current year, with estimates ranging from $2.57 billion to $2.59 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.76 billion, with estimates ranging from $2.74 billion to $2.78 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Teleflex.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, February 21st. The medical technology company reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.01. The business had revenue of $641.60 million for the quarter, compared to analysts’ expectations of $641.06 million. Teleflex had a return on equity of 18.47% and a net margin of 8.20%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share.

TFX has been the subject of several recent research reports. TheStreet upgraded Teleflex from a “c+” rating to a “b-” rating in a research report on Wednesday, November 28th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $325.00 price target (up previously from $300.00) on shares of Teleflex in a research report on Friday, February 22nd. Barclays set a $287.00 price target on Teleflex and gave the stock a “hold” rating in a research report on Friday, February 22nd. Morgan Stanley lifted their price target on Teleflex from $305.00 to $315.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 26th. Finally, Zacks Investment Research upgraded Teleflex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $297.00.

TFX traded up $4.04 on Friday, hitting $302.90. The company had a trading volume of 654,963 shares, compared to its average volume of 540,542. The firm has a market cap of $13.81 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.99 and a beta of 1.06. Teleflex has a 12-month low of $226.02 and a 12-month high of $302.95. The company has a current ratio of 2.12, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.45%. Teleflex’s dividend payout ratio (DPR) is presently 13.74%.

In other Teleflex news, VP Cameron P. Hicks sold 2,000 shares of the business’s stock in a transaction that occurred on 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 owns 4,696 shares in the company, valued at $1,352,448. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas E. Powell sold 5,324 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $242.25, for a total value of $1,289,739.00. Following the transaction, the chief financial officer now owns 13,775 shares of the company’s stock, valued at approximately $3,336,993.75. The disclosure for this sale can be found here. Insiders have sold 21,924 shares of company stock valued at $5,828,431 in the last 90 days. Company insiders own 2.56% of the company’s stock.

Large investors have recently made changes to their positions in the business. First Trust Advisors LP raised its stake in shares of Teleflex by 26.0% in the third quarter. First Trust Advisors LP now owns 75,843 shares of the medical technology company’s stock valued at $20,181,000 after buying an additional 15,648 shares during the period. Private Advisor Group LLC grew its position in shares of Teleflex by 21.1% in the third quarter. Private Advisor Group LLC now owns 2,848 shares of the medical technology company’s stock valued at $758,000 after purchasing an additional 496 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Teleflex by 2.7% in the third quarter. TD Asset Management Inc. now owns 146,150 shares of the medical technology company’s stock valued at $38,889,000 after purchasing an additional 3,798 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Teleflex in the third quarter valued at $260,000. Finally, Virginia Retirement Systems ET AL grew its position in shares of Teleflex by 21.7% in the third quarter. Virginia Retirement Systems ET AL now owns 2,800 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

Teleflex Company Profile

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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