Medical technology company Teleflex (NYSE: TFX) will be announcing earnings results this Thursday before the bell. Here’s what to look for.
Teleflex beat analysts’ revenue expectations last quarter, reporting revenues of $570.3 million, up 28.9% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ full-year EPS guidance estimates.
Is Teleflex a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Teleflex’s revenue to grow 1.3% year on year, a reversal from the 27% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Teleflex has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Teleflex’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 21.7%, beating analysts’ expectations by 5.3%, and Integra LifeSciences reported revenues up 2.3%, in line with consensus estimates. Intuitive Surgical traded down 2.3% following the results while Integra LifeSciences was also down 7.5%.
Read our full analysis of Intuitive Surgical’s results here and Integra LifeSciences’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.8% on average over the last month. Teleflex is up 10.2% during the same time and is heading into earnings with an average analyst price target of $154 (compared to the current share price of $138.01).
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