12:47 PM EDT, 10/31/2024 (MT Newswires) -- (Updates with stock price movement in headline and first paragraph)

Teleflex ( TFX ) shares fell nearly 16% in recent Thursday trading after the company lowered its outlook for revenue growth.

Revenue for the year is now expected to grow 2.9% to 3.4%, compared with earlier guidance for growth of 3.4% to 4.4%.

The company said it now expects 2024 adjusted EPS from continuing operations of $13.90 to $14.20, compared with its prior outlook of $13.80 to $14.20.

Analysts polled by Capital IQ expect $13.93.

The guidance came as the company reported Q3 adjusted earnings from continuing operations of $3.49 per share, down from $3.64 a year earlier.

Analysts polled by Capital IQ expected $3.39.

Net revenue for the quarter ended Sept. 29 was $764.4 million, up from $746.4 million a year earlier.

Analysts surveyed by Capital IQ expected $767.8 million.

Price: 197.71, Change: -37.51, Percent Change: -15.95