Teleflex (NYSE:TFX) Updates FY 2024 Earnings Guidance

Teleflex (NYSE:TFX) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 13.800-14.200 for the period, compared to the consensus EPS estimate of 13.730. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.1 billion. Teleflex also updated its FY24 guidance to $13.80-14.20 EPS.

Analyst Ratings Changes

Several brokerages have commented on TFX. Piper Sandler upgraded Teleflex from a neutral rating to an overweight rating and increased their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Needham & Company LLC reissued a hold rating on shares of Teleflex in a report on Friday, May 3rd. Finally, Truist Financial increased their price target on Teleflex from $235.00 to $240.00 and gave the company a hold rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $263.14.

Teleflex Stock Performance

NYSE TFX traded up $11.82 on Thursday, hitting $232.74. 407,172 shares of the company traded hands, compared to its average volume of 368,833. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.16 and a beta of 1.13. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $212.93 and its 200-day moving average price is $221.44. Teleflex has a 52-week low of $177.63 and a 52-week high of $257.85.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.14. The company had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. Teleflex’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.09 earnings per share. Equities analysts expect that Teleflex will post 13.75 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a $0.34 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. Teleflex’s payout ratio is 21.83%.

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.