Leerink Swann Research Analysts Decrease Earnings Estimates for Teleflex Inc. (TFX)
Teleflex Inc. (NYSE:TFX) – Investment analysts at Leerink Swann cut their Q3 2016 earnings estimates for shares of Teleflex in a research report issued on Tuesday. Leerink Swann analyst R. Newitter now anticipates that the brokerage will post earnings of $1.79 per share for the quarter, down from their prior forecast of $1.80. Leerink Swann has a “Market Perform” rating and a $190.00 price objective on the stock. Leerink Swann also issued estimates for Teleflex’s FY2018 earnings at $8.75 EPS.
Several other analysts have also recently issued reports on the company. Barclays PLC reiterated an “overweight” rating and issued a $183.00 price objective (up from $170.00) on shares of Teleflex in a research note on Tuesday, June 14th. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a research note on Wednesday, June 29th. Finally, Jefferies Group increased their price objective on Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Teleflex currently has a consensus rating of “Buy” and a consensus target price of $171.33.
Teleflex (NYSE:TFX) opened at 164.51 on Wednesday. The firm has a market cap of $7.24 billion, a PE ratio of 29.20 and a beta of 0.83. Teleflex has a one year low of $122.14 and a one year high of $188.79. The stock has a 50 day moving average price of $179.29 and a 200 day moving average price of $169.34.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, July 28th. The medical technology company reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business earned $473.60 million during the quarter, compared to analysts’ expectations of $468.40 million. Teleflex had a return on equity of 15.59% and a net margin of 14.89%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS.
Several institutional investors have recently modified their holdings of TFX. Atlanta Capital Management Co. L L C raised its position in shares of Teleflex by 42.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,830,995 shares of the medical technology company’s stock valued at $287,484,000 after buying an additional 542,610 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Teleflex by 120.7% in the first quarter. Wellington Management Group LLP now owns 761,800 shares of the medical technology company’s stock valued at $119,610,000 after buying an additional 416,696 shares during the last quarter. USS Investment Management Ltd purchased a new position in shares of Teleflex during the first quarter valued at about $58,057,000. Norges Bank purchased a new position in shares of Teleflex during the fourth quarter valued at about $43,143,000. Finally, Vanguard Group Inc. raised its position in shares of Teleflex by 10.2% in the second quarter. Vanguard Group Inc. now owns 3,322,782 shares of the medical technology company’s stock valued at $589,162,000 after buying an additional 306,432 shares during the last quarter. 93.77% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, August 11th. Teleflex’s payout ratio is 24.11%.
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 markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.
Receive News & Stock Ratings for Teleflex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex Inc. and related stocks with our FREE daily email newsletter.