$640.01 Million in Sales Expected for Teleflex Incorporated (TFX) This Quarter

Wall Street brokerages expect Teleflex Incorporated (NYSE:TFX) to announce $640.01 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Teleflex’s earnings, with the lowest sales estimate coming in at $638.00 million and the highest estimate coming in at $641.80 million. Teleflex posted sales of $595.11 million during the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, February 21st.

On average, analysts expect that Teleflex will report full year sales of $2.45 billion for the current financial year, with estimates ranging from $2.44 billion to $2.46 billion. For the next year, analysts expect that the firm will report sales of $2.58 billion, with estimates ranging from $2.57 billion to $2.60 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Teleflex.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 21st. The medical technology company reported $2.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.01. The business had revenue of $641.60 million during the quarter, compared to analyst estimates of $641.06 million. Teleflex had a net margin of 2.81% and a return on equity of 18.04%. Teleflex’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 earnings per share.

Several brokerages have commented on TFX. TheStreet upgraded shares of Teleflex from a “c+” rating to a “b-” rating in a research note on Wednesday, November 28th. Piper Jaffray Companies lifted their target price on shares of Teleflex to $310.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Morgan Stanley lifted their target price on shares of Teleflex from $295.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $315.00 target price on shares of Teleflex in a report on Friday, November 2nd. Finally, UBS Group initiated coverage on shares of Teleflex in a report on Tuesday, November 27th. They set a “buy” rating and a $310.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $291.88.

In related news, insider Thomas E. Powell sold 5,200 shares of the business’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $259.41, for a total value of $1,348,932.00. Following the completion of the sale, the insider now owns 13,651 shares of the company’s stock, valued at approximately $3,541,205.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas E. Powell sold 5,324 shares of the business’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $242.25, for a total transaction of $1,289,739.00. Following the completion of the sale, the chief financial officer now directly owns 13,775 shares of the company’s stock, valued at approximately $3,336,993.75. The disclosure for this sale can be found here. In the last three months, insiders sold 21,148 shares of company stock valued at $5,273,753. 2.56% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its holdings in Teleflex by 17.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 239 shares of the medical technology company’s stock worth $62,000 after acquiring an additional 36 shares in the last quarter. Lourd Capital LLC grew its holdings in shares of Teleflex by 3.9% during the fourth quarter. Lourd Capital LLC now owns 1,211 shares of the medical technology company’s stock worth $313,000 after buying an additional 45 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Teleflex by 0.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,256 shares of the medical technology company’s stock worth $2,393,000 after buying an additional 54 shares in the last quarter. ETF Managers Group LLC grew its holdings in shares of Teleflex by 15.6% during the fourth quarter. ETF Managers Group LLC now owns 510 shares of the medical technology company’s stock worth $132,000 after buying an additional 69 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Teleflex by 0.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,610 shares of the medical technology company’s stock worth $3,518,000 after buying an additional 86 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

NYSE TFX traded down $11.25 during trading on Thursday, reaching $275.23. 605,280 shares of the company’s stock traded hands, compared to its average volume of 665,477. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.51 and a current ratio of 2.26. Teleflex has a 12-month low of $226.02 and a 12-month high of $287.59. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08.

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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