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

Teleflex (NYSE:TFX) posted its quarterly earnings data on Thursday. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same quarter last year, the company earned $3.09 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Teleflex updated its FY24 guidance to $13.60-13.95 EPS.

Teleflex Price Performance

TFX stock traded up $4.28 during trading on Friday, reaching $203.01. The company’s stock had a trading volume of 604,098 shares, compared to its average volume of 322,570. The company’s fifty day moving average is $217.97 and its 200-day moving average is $226.02. Teleflex has a 1 year low of $177.63 and a 1 year high of $262.97. The company has a market capitalization of $9.56 billion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13. 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 Dividend Announcement

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

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 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 can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

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