Teleflex Incorporated to Issue Quarterly Dividend of $0.34 (NYSE:TFX)

Teleflex Incorporated (NYSE:TFX - Get Free Report) declared a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.34 per share by the medical technology company on Friday, June 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, May 14th.

Teleflex has a dividend payout ratio of 9.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Teleflex to earn $15.19 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 9.0%.

Teleflex Stock Performance

Shares of NYSE:TFX traded up $0.56 during trading on Tuesday, reaching $201.52. 374,466 shares of the company's stock traded hands, compared to its average volume of 285,820. The stock has a market capitalization of $9.49 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Teleflex has a 12 month low of $177.63 and a 12 month high of $262.97. The company has a 50 day moving average of $216.73 and a 200-day moving average of $226.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.14. The business had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.09 EPS. On average, equities analysts expect that Teleflex will post 13.72 EPS for the current year.

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. JMP Securities reiterated a "market outperform" rating and set a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a report on Friday. StockNews.com downgraded Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Finally, Truist Financial decreased their price target on Teleflex from $240.00 to $219.00 and set a "hold" rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Teleflex has an average rating of "Moderate Buy" and an average price target of $261.75.

About Teleflex

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.