Teleflex (NYSE:TFX) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Teleflex (NYSE:TFX) issued its quarterly earnings data on Thursday. The medical technology company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11, Briefing.com reports. The company 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%. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.64 earnings per share. Teleflex updated its FY 2024 guidance to 13.900-14.200 EPS and its FY24 guidance to $13.90-14.20 EPS.

Teleflex Trading Up 5.0 %

Shares of Teleflex stock opened at $211.21 on Friday. The firm’s 50 day simple moving average is $239.55 and its two-hundred day simple moving average is $223.93. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18. Teleflex has a 12-month low of $190.49 and a 12-month high of $257.85. The company has a current ratio of 2.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio is presently 27.04%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stephens boosted their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada decreased their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday. Finally, Truist Financial increased their target price on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.75.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.43% of the company’s stock.

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.