Headquartered in Pennsylvania, Teleflex Incorporated (TFX) designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. Valued at $11.1 billion by market cap, it leverages its expertise in vascular access, interventional cardiology, anesthesia, and urology to maintain a strong market presence, serving a broad customer base. The global medical technologies provider is expected to announce its fiscal third-quarter earnings for 2024 on Thursday, October 31, before the market opens.

Ahead of the event, analysts expect TFX to report a profit of $3.38 per share on a diluted basis, down 7.1% from $3.64 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. Its EPS of $3.42 in the recent quarter surpassed the consensus estimate by 2.7%. 

For the full year, analysts expect TFX to report EPS of $13.97, up 3.3% from $13.52 in fiscal 2023.

TFX stock is down 5.1% on a YTD basis, underperforming the S&P 500’s ($SPX) 22.7% gains and the Healthcare Select Sector SPDR Fund’s (XLV) 10.8% gains over the same time frame.

Despite struggling to keep up with the broader market this year, TFX stock climbed 6.8% on Aug. 1, following its Q2 earnings release. While it failed to beat its revenue estimate, the company surpassed the EPS expectations. Teleflex’s raised full-year 2024 earnings outlook and announcement of a $500 million share repurchase program further enhanced investor confidence. 

Analysts’ consensus opinion on TFX stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 13 analysts covering the stock, three advise a “Strong Buy” rating, three suggest a “Moderate Buy” rating, and seven give a “Hold.” 

The average analyst price target for TFX is $265.09, indicating a potential upside of 12% from the current levels. 

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On the date of publication, Kritika Sarmah 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.