Teleflex (NYSE:TFX) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Teleflex (NYSE:TFX) announced its quarterly earnings data on Thursday. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.14, Briefing.com reports. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same period last year, the company earned $3.09 earnings per share. Teleflex’s quarterly revenue was up 3.8% compared to the same quarter last year. Teleflex updated its FY24 guidance to $13.60-13.95 EPS.

Teleflex Stock Up 2.2 %

TFX traded up $4.28 during 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 company has a market capitalization of $9.56 billion, a PE ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. Teleflex has a one year low of $177.63 and a one year high of $262.97. The firm’s 50-day moving average price is $217.97 and its 200 day moving average price is $226.02. 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 Announces Dividend

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

Insider Activity at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the business’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 of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TFX has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a research report on Friday. 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 research report on Friday, February 23rd. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a research report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday. Four 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $261.75.

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.