Teleflex (NYSE:TFX) Announces Quarterly Earnings Results

Teleflex (NYSE:TFX) issued its earnings results on Thursday. The medical technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09, Briefing.com reports. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same quarter last year, the firm earned $3.41 EPS. The business’s revenue was up .9% on a year-over-year basis. Teleflex updated its FY24 guidance to $13.80-14.20 EPS and its FY 2024 guidance to 13.800-14.200 EPS.

Teleflex Price Performance

Teleflex stock traded up $1.18 during mid-day trading on Friday, hitting $237.13. The company’s stock had a trading volume of 743,641 shares, compared to its average volume of 373,837. Teleflex has a twelve month low of $177.63 and a twelve month high of $257.85. The stock’s fifty day moving average price is $213.52 and its two-hundred day moving average price is $221.54. The stock has a market capitalization of $11.17 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.14 and a beta of 1.13. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Teleflex’s payout ratio is 21.83%.

Analysts Set New Price Targets

Several research firms have recently commented on TFX. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Royal Bank of Canada boosted their price target on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial boosted their target price on shares of Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Finally, Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and an average price target of $264.57.

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.