Teleflex (NYSE:TFX) Shares Gap Up After Better-Than-Expected Earnings

Key Points

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Teleflex Incorporated (NYSE:TFX - Get Free Report)'s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $113.91, but opened at $123.10. Teleflex shares last traded at $120.58, with a volume of 159,878 shares trading hands.

The medical technology company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.36 by $0.37. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. During the same quarter in the previous year, the company earned $3.42 earnings per share. The company's quarterly revenue was up 4.2% compared to the same quarter last year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.14%. Teleflex's dividend payout ratio (DPR) is presently 42.90%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TFX shares. Wall Street Zen lowered Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Royal Bank Of Canada set a $130.00 price objective on Teleflex and gave the company a "sector perform" rating in a research note on Tuesday, July 15th. Morgan Stanley cut their target price on Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Truist Financial decreased their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Mizuho cut their price target on Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $159.63.

Hedge Funds Weigh In On Teleflex

Several hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its holdings in shares of Teleflex by 4.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,670 shares of the medical technology company's stock worth $831,000 after buying an additional 215 shares in the last quarter. LPL Financial LLC grew its stake in Teleflex by 36.4% in the 4th quarter. LPL Financial LLC now owns 34,931 shares of the medical technology company's stock valued at $6,217,000 after buying an additional 9,330 shares in the last quarter. Norges Bank purchased a new position in shares of Teleflex during the 4th quarter valued at $100,328,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Teleflex by 0.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 14,140 shares of the medical technology company's stock worth $2,517,000 after acquiring an additional 125 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Teleflex by 4.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 32,027 shares of the medical technology company's stock worth $5,700,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

The company has a market cap of $5.29 billion, a PE ratio of 37.48, a PEG ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. The firm's 50-day moving average is $118.86 and its 200-day moving average is $138.01.

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.

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