Teleflex (NYSE:TFX) Announces Earnings Results

Teleflex (NYSE:TFX) released its earnings results on Thursday. The medical technology company reported $2.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.59 by $0.07, RTT News reports. The firm had revenue of $652.50 million during the quarter, compared to analyst estimates of $637.06 million. Teleflex had a net margin of 7.50% and a return on equity of 18.62%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 EPS. Teleflex updated its FY 2019 guidance to $10.90-11.10 EPS and its FY19 guidance to $10.90-11.10 EPS.

Shares of TFX traded up $21.83 during trading hours on Thursday, reaching $361.57. 502,400 shares of the company traded hands, compared to its average volume of 346,044. The firm has a fifty day moving average of $334.82. The firm has a market cap of $16.19 billion, a PE ratio of 36.52, a P/E/G ratio of 2.32 and a beta of 1.01. The company has a current ratio of 2.27, a quick ratio of 1.41 and a debt-to-equity ratio of 0.85. Teleflex has a 1-year low of $226.02 and a 1-year high of $366.79.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.38%. Teleflex’s dividend payout ratio is currently 13.74%.

A number of research firms have weighed in on TFX. Barclays boosted their target price on shares of Teleflex from $287.00 to $309.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Morgan Stanley boosted their target price on shares of Teleflex from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Needham & Company LLC lowered shares of Teleflex from a “strong-buy” rating to a “buy” rating and set a $325.00 target price for the company. in a research report on Wednesday, April 24th. Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Co began coverage on shares of Teleflex in a research report on Tuesday, June 11th. They set an “outperform” rating and a $345.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $333.75.

In other news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $343.28, for a total transaction of $68,656.00. Following the completion of the transaction, the director now owns 936 shares of the company’s stock, valued at $321,310.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benson Smith sold 8,500 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $294.52, for a total transaction of $2,503,420.00. Following the transaction, the director now directly owns 85,300 shares of the company’s stock, valued at approximately $25,122,556. The disclosure for this sale can be found here. Insiders have sold 54,949 shares of company stock valued at $17,239,052 in the last ninety days. 2.36% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TFX. Norges Bank bought a new stake in Teleflex in the fourth quarter valued at about $104,380,000. Janus Henderson Group PLC increased its stake in Teleflex by 18.5% in the first quarter. Janus Henderson Group PLC now owns 962,391 shares of the medical technology company’s stock valued at $290,796,000 after acquiring an additional 150,201 shares during the period. First Trust Advisors LP increased its stake in Teleflex by 247.5% in the first quarter. First Trust Advisors LP now owns 181,850 shares of the medical technology company’s stock valued at $54,948,000 after acquiring an additional 129,524 shares during the period. Marshall Wace North America L.P. increased its stake in Teleflex by 32.2% in the first quarter. Marshall Wace North America L.P. now owns 494,782 shares of the medical technology company’s stock valued at $149,502,000 after acquiring an additional 120,411 shares during the period. Finally, Pennsylvania Trust Co increased its stake in Teleflex by 4,183.1% in the first quarter. Pennsylvania Trust Co now owns 114,574 shares of the medical technology company’s stock valued at $4,916,000 after acquiring an additional 111,899 shares during the period. 91.46% of the stock is owned by institutional investors and hedge funds.

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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