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Teleflex Incorporated (TFX), headquartered in Wayne, Pennsylvania, designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. Valued at $10.36 billion by market cap, the company provides medical technologies designed to improve the health and quality of people’s lives. The global medical technologies provider is expected to announce its fiscal second-quarter earnings for 2024 on Thursday, Aug. 1.
Ahead of the event, analysts expect TFX to report a profit of $3.33 per share on a diluted basis, down 2.4% from $3.41 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect TFX to report EPS of $13.75, up 1.7% from $13.52 in fiscal 2023.
TFX stock has underperformed the S&P 500’s ($SPX) 18.4% gains on a YTD basis, with shares down 11.2% during this period. Similarly, it underperformed the S&P 500 Healthcare Sector SPDR’s (XLV) 9.3% gains over the same time frame.
On Jul. 1, TFX shares rose more than 2% after leading investment bank Piper Sandler upgraded the stock to Overweight from Neutral with a price target of $245.
On May 2, TFX reported its Q1 results. Its adjusted EPS of $3.21, topped Wall Street expectations of $3.07. The company’s revenue of $737.80 million beat Wall Street forecasts of $726.70 million. TFX raised the low end of its full-year adjusted EPS range from between $13.55 and $13.95 to between $13.60 and $13.95. TFX shares closed down more than 6% on the day the results were released but have been on an uptrend since then.
Analysts’ consensus opinion on TFX stock is bullish, with a “Moderate Buy” rating overall. Out of 14 analysts covering the stock, four advise a “Strong Buy” rating, three suggest a “Moderate Buy” rating, and seven give a “Hold.” The average analyst price target for TFX is $249.92, indicating a potential upside of 13.7% from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
