Zacks Research Has Negative Outlook of Teleflex Q3 Earnings

Teleflex Incorporated (NYSE:TFX) – Investment analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Teleflex in a research report issued to clients and investors on Wednesday, October 23rd. Zacks Research analyst R. Department now forecasts that the medical technology company will post earnings of $3.36 per share for the quarter, down from their prior forecast of $3.37. The consensus estimate for Teleflex’s current full-year earnings is $13.97 per share. Zacks Research also issued estimates for Teleflex’s Q4 2024 earnings at $3.91 EPS, Q2 2025 earnings at $3.74 EPS, Q1 2026 earnings at $3.99 EPS and Q3 2026 earnings at $4.14 EPS.

TFX has been the topic of a number of other research reports. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Stephens boosted their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial boosted their price target on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada boosted their price objective on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $268.86.

Teleflex Stock Performance

NYSE TFX opened at $237.82 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The company has a market capitalization of $11.21 billion, a PE ratio of 42.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. Teleflex has a 52-week low of $177.63 and a 52-week high of $257.85. The company has a 50-day simple moving average of $241.19 and a 200 day simple moving average of $223.48.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. The firm had revenue of $749.70 million during the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.41 EPS.

Institutional Investors Weigh In On Teleflex

Hedge funds have recently bought and sold shares of the stock. Cromwell Holdings LLC raised its position in shares of Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after buying an additional 49 shares in the last quarter. Riverview Trust Co bought a new position in Teleflex in the first quarter valued at $31,000. GAMMA Investing LLC raised its position in Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Teleflex during the second quarter worth about $42,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 15th. Teleflex’s payout ratio is 24.42%.

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. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.