Teleflex (NYSE:TFX) Announces Earnings Results

Teleflex (NYSE:TFX - Get Free Report) released its quarterly earnings data on Thursday. The medical technology company reported $3.21 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.14, Briefing.com reports. 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 for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.09 EPS. Teleflex updated its FY24 guidance to $13.60-13.95 EPS.

Teleflex Price Performance

Shares of NYSE TFX traded up $4.28 during midday trading on Friday, hitting $203.01. The company had a trading volume of 604,098 shares, compared to its average volume of 322,570. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13. Teleflex has a twelve month low of $177.63 and a twelve month high of $262.97. The business has a 50-day simple moving average of $217.27 and a two-hundred day simple moving average of $226.33. The company has a quick ratio of 1.29, a current ratio of 2.51 and a debt-to-equity ratio of 0.37.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex's dividend payout ratio (DPR) is presently 21.83%.

Wall Street Analyst Weigh In

TFX has been the subject of several research analyst reports. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a report on Friday. JMP Securities restated a "market outperform" rating and issued a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Royal Bank of Canada lowered their price target on Teleflex from $272.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. Truist Financial reduced their price objective on Teleflex from $240.00 to $219.00 and set a "hold" rating for the company in a research note on Friday. Finally, StockNews.com lowered shares of Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Teleflex has an average rating of "Moderate Buy" and a consensus target price of $261.75.

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares of the company's stock, valued at approximately $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is currently owned by company insiders.

Teleflex Company Profile

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.