Teleflex (NYSE:TFX) Updates FY24 Earnings Guidance

Teleflex (NYSE:TFX - Get Free Report) issued an update on its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $13.90-14.20 for the period, compared to the consensus earnings per share estimate of $13.96. The company issued revenue guidance of +2.9-3.4% yr/yr to $3.06-3.08 billion, compared to the consensus revenue estimate of $3.10 billion. Teleflex also updated its FY 2024 guidance to 13.900-14.200 EPS.

Teleflex Stock Performance

Shares of NYSE:TFX traded down $34.16 during trading on Thursday, hitting $201.06. 1,484,945 shares of the company were exchanged, compared to its average volume of 367,516. The stock has a 50 day moving average of $240.93 and a 200 day moving average of $224.08. The company has a market cap of $9.47 billion, a PE ratio of 36.80, a P/E/G ratio of 2.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. Teleflex has a 52-week low of $178.83 and a 52-week high of $257.85.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same quarter in the previous year, the firm earned $3.41 earnings per share. Teleflex's revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that Teleflex will post 13.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Teleflex from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Stephens increased their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Finally, Truist Financial lifted their price target on shares of Teleflex from $247.00 to $255.00 and gave the company a "hold" rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $268.86.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now owns 5,496 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 1.43% of the company's stock.

Teleflex Company Profile

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.