Teleflex (NYSE:TFX) Announces Earnings Results, Beats Estimates By $0.14 EPS

Teleflex (NYSE:TFX) released its quarterly earnings results 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. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. Teleflex’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.09 EPS. Teleflex updated its FY24 guidance to $13.60-13.95 EPS.

Teleflex Stock Up 2.2 %

Shares of TFX stock traded up $4.28 during trading hours on Friday, hitting $203.01. 604,098 shares of the company’s stock traded hands, 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. The stock’s fifty day simple moving average is $217.27 and its two-hundred day simple moving average is $226.33. Teleflex has a 12-month low of $177.63 and a 12-month high of $262.97. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.94 and a beta of 1.13.

Teleflex Announces Dividend

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

Analysts Set New Price Targets

TFX has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday. Truist Financial dropped their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada decreased their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Insider Buying and Selling

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the transaction, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is currently owned by company 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.