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

Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.34 per share by the medical technology company on Monday, December 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, November 15th.

Teleflex has a payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teleflex to earn $15.23 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 8.9%.

Teleflex Stock Performance

Shares of Teleflex stock opened at $193.98 on Thursday. Teleflex has a fifty-two week low of $193.49 and a fifty-two week high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm has a market capitalization of $9.01 billion, a P/E ratio of 38.56, a P/E/G ratio of 2.00 and a beta of 1.18. The company’s 50 day moving average price is $233.46 and its two-hundred day moving average price is $223.73.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.64 earnings per share. On average, equities analysts forecast that Teleflex will post 13.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stephens raised their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Mizuho dropped their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus price target of $259.25.

Insider Buying and Selling

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is owned by 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.