Teleflex raises 2024 adjusted EPS view to $13.80-$14.20 from $13.60-$13.95

Consensus for 2024 EPS is $13.73. Raises 2024 adjusted revenue growth view to 4.25%-5.25% from 3.75%-4.75% year-over-year. 2023 revenue was $2.97B. Consensus for 2024 revenue is $3.09B. “Q2 was consistent with our strategic focus on durable revenue growth.” said CEO Liam Kelly. “Revenue momentum for Barrigel remained strong, and we continued to be on track with our integration of Palette Life Sciences AB. Our first half results reflect the benefits of our diversified product portfolio and corporate strategy for growth. As a sign of confidence, our Board of Directors has authorized a share repurchase program for up to $500M of our common stock, inclusive of a $200M accelerated share repurchase. The Teleflex Board of Directors and Management remain confident in the company’s long-term growth profile and ability to create significant shareholder value. Our strong balance sheet allows us to opportunistically repurchase shares as part of a broader capital allocation strategy while not compromising the company’s capacity to invest in the growth of our business, including the execution of value creating M&A opportunities.”