Teleflex (TFX) shares soared 3.8% in the last trading session to close at $390.32. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.7% loss over the past four weeks.The stock scored a strong price increase on optimism surrounding the company’s upcoming second-quarter fiscal 2021 earnings release, scheduled for Jul 29. The Zacks Consensus Estimate for second-quarter 2021 revenues and adjusted earnings per share suggests improvement of 20.1% and 48.2% year over year, respectively. Management’s projection about the company realizing nearly 24.5% of full-year reported revenues and around 22.5% of full-year adjusted earnings per share during the second quarter instills investor confidence in the stock.This medical equipment maker is expected to post quarterly earnings of $2.86 per share in its upcoming report, which represents a year-over-year change of +48.2%. Revenues are expected to be $680.85 million, up 20.1% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Teleflex, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TFX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Teleflex Incorporated (TFX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research