Teleflex (TFX) Announces Earnings Results, Beats Estimates By $0.06 EPS

Teleflex (NYSE:TFX) released its quarterly earnings results on Thursday. The medical technology company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06, Bloomberg Earnings reports. The company had revenue of $609.87 million during the quarter, compared to analysts’ expectations of $615.97 million. Teleflex had a return on equity of 16.60% and a net margin of 7.51%. Teleflex’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.04 EPS. Teleflex updated its FY18 guidance to $9.70-9.90 EPS.

NYSE:TFX traded down $21.79 during trading hours on Thursday, hitting $249.02. 1,451,100 shares of the stock were exchanged, compared to its average volume of 294,274. Teleflex has a 52-week low of $197.72 and a 52-week high of $288.78. The company has a current ratio of 2.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. The firm has a market cap of $12.42 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 1.92 and a beta of 1.21.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Wednesday, August 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.55%. Teleflex’s dividend payout ratio (DPR) is currently 16.19%.

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $293.00 price target (up previously from $285.00) on shares of Teleflex in a report on Thursday, May 3rd. Deutsche Bank set a $255.00 price target on Teleflex and gave the stock a “hold” rating in a report on Friday, May 4th. Leerink Swann upped their price target on Teleflex from $309.00 to $317.00 and gave the stock an “outperform” rating in a report on Tuesday, June 5th. Finally, Goldman Sachs Group assumed coverage on Teleflex in a report on Wednesday, April 4th. They issued a “neutral” rating and a $257.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Teleflex has an average rating of “Hold” and a consensus target price of $282.50.

In other Teleflex news, Director Benson Smith sold 9,331 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $265.26, for a total transaction of $2,475,141.06. Following the completion of the sale, the director now directly owns 77,887 shares in the company, valued at approximately $20,660,305.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Cameron P. Hicks sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $267.00, for a total value of $534,000.00. Following the sale, the vice president now owns 7,014 shares of the company’s stock, valued at $1,872,738. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,602 shares of company stock valued at $18,008,816. 2.56% of the stock is owned by company insiders.

About Teleflex

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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Earnings History for Teleflex (NYSE:TFX)

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