Teleflex Incorporated (TFX) to Post FY2018 Earnings of $9.66 Per Share, Leerink Swann Forecasts
Teleflex Incorporated (NYSE:TFX) – Leerink Swann lifted their FY2018 earnings per share estimates for Teleflex in a note issued to investors on Thursday. Leerink Swann analyst R. Newitter now anticipates that the medical technology company will post earnings per share of $9.66 for the year, up from their prior estimate of $9.64. Leerink Swann has a “Outperform” rating and a $266.00 price objective on the stock. Leerink Swann also issued estimates for Teleflex’s FY2019 earnings at $11.37 EPS.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.11. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The company had revenue of $534.70 million for the quarter, compared to analyst estimates of $522.94 million. During the same quarter last year, the company earned $1.80 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis.
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A number of other brokerages have also commented on TFX. Jefferies Group LLC lifted their price target on Teleflex from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley lifted their price target on Teleflex from $274.00 to $290.00 and gave the stock an “equal weight” rating in a report on Friday. Needham & Company LLC lifted their price target on Teleflex from $237.00 to $285.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Stephens reiterated a “buy” rating and set a $270.00 price target (up from $230.00) on shares of Teleflex in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $271.88.
Teleflex (NYSE TFX) traded up $0.64 during mid-day trading on Monday, hitting $257.22. The stock had a trading volume of 92,718 shares, compared to its average volume of 232,419. Teleflex has a 52 week low of $140.91 and a 52 week high of $263.97. The company has a quick ratio of 3.70, a current ratio of 4.72 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $11,590.00, a price-to-earnings ratio of 31.69, a PEG ratio of 2.47 and a beta of 1.05.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is presently 24.55%.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Friday, September 1st. The stock was sold at an average price of $211.75, for a total value of $42,350.00. Following the completion of the transaction, the director now directly owns 8,080 shares in the company, valued at $1,710,940. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 600 shares of company stock valued at $138,162. 2.39% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of TFX. Janus Henderson Group PLC lifted its stake in Teleflex by 50,429.2% during the second quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock worth $377,296,000 after purchasing an additional 1,812,426 shares during the last quarter. Koch Industries Inc. lifted its stake in Teleflex by 47,174.3% during the second quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock worth $955,000 after purchasing an additional 957,639 shares during the last quarter. American Century Companies Inc. lifted its stake in Teleflex by 41.6% during the third quarter. American Century Companies Inc. now owns 1,187,909 shares of the medical technology company’s stock worth $287,438,000 after purchasing an additional 348,829 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in Teleflex by 137.4% during the second quarter. Marshall Wace North America L.P. now owns 518,462 shares of the medical technology company’s stock worth $107,840,000 after purchasing an additional 300,069 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Teleflex by 93.5% during the second quarter. Principal Financial Group Inc. now owns 610,398 shares of the medical technology company’s stock worth $126,816,000 after purchasing an additional 294,935 shares during the last quarter. 89.79% of the stock is owned by institutional investors.
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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