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

Teleflex (NYSE:TFX) announced its quarterly earnings results on Thursday. The medical technology company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.14, Briefing.com reports. The company had revenue of $737.80 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $3.09 earnings per share. Teleflex updated its FY24 guidance to $13.60-13.95 EPS.

Teleflex Price Performance

Shares of TFX stock traded up $4.28 during trading hours on Friday, reaching $203.01. The company had a trading volume of 604,098 shares, compared to its average volume of 322,570. Teleflex has a 12-month low of $177.63 and a 12-month high of $262.97. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. The stock has a fifty day moving average of $217.97 and a 200-day moving average of $226.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 2.51.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TFX shares. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Royal Bank of Canada reduced their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday. Finally, Truist Financial reduced their price target on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

Insider Activity at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares in the company, valued at $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.

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.