Teleflex (NYSE:TFX) Announces Earnings Results

Teleflex (NYSE:TFX) 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. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The company had revenue of $737.80 million during the quarter, compared to the consensus estimate of $726.85 million. During the same quarter in the prior year, the firm earned $3.09 EPS. Teleflex’s quarterly revenue was up 3.8% on a year-over-year basis. Teleflex updated its FY24 guidance to $13.60-13.95 EPS.

Teleflex Stock Up 2.2 %

TFX stock traded up $4.28 during midday trading on Friday, hitting $203.01. The company’s stock had a trading volume of 604,098 shares, compared to its average volume of 322,570. 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 has a 52-week low of $177.63 and a 52-week high of $262.97. The firm has a market capitalization of $9.56 billion, a P/E ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. The firm has a 50-day simple moving average of $217.97 and a 200-day simple moving average of $226.02.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.34 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.36 annualized dividend and a yield of 0.67%. Teleflex’s dividend payout ratio is presently 21.83%.

Wall Street Analyst Weigh In

TFX has been the subject of several analyst reports. JMP Securities reissued a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday. Truist Financial dropped their price target on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Insider Buying and Selling at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction on 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 approximately $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

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.