Zacks Research Has Bearish Outlook for Teleflex Q3 Earnings

Teleflex Incorporated (NYSE:TFX) – Stock analysts at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Teleflex in a research report issued 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 previous 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.

Several other research analysts also recently commented on the company. Royal Bank of Canada increased 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. Truist Financial raised their price target on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $268.86.

Teleflex Price Performance

NYSE:TFX opened at $235.62 on Thursday. The stock has a 50 day moving average of $241.19 and a two-hundred day moving average of $223.48. Teleflex has a 12 month low of $177.63 and a 12 month high of $257.85. The firm has a market cap of $11.10 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last announced its earnings results 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. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same quarter last year, the firm posted $3.41 EPS. The business’s revenue was up .9% on a year-over-year basis.

Hedge Funds Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently bought and sold shares of TFX. Riverview Trust Co purchased a new stake in shares of Teleflex during the 1st quarter worth approximately $31,000. Cromwell Holdings LLC grew its holdings in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 49 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Teleflex in the 2nd quarter worth $42,000. GAMMA Investing LLC lifted its stake in shares of Teleflex by 131.1% in the 3rd 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. Finally, Versant Capital Management Inc grew its stake in Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after buying an additional 207 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 annualized dividend and a yield of 0.58%. Teleflex’s dividend payout ratio (DPR) is currently 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.