Teleflex Incorporated (NYSE:TFX) Declares $0.34 Quarterly Dividend

Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.34 per share by the medical technology company on Monday, December 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th.

Teleflex has a payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Teleflex to earn $15.23 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 8.9%.

Teleflex Stock Down 0.8 %

Shares of TFX stock opened at $193.98 on Thursday. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 2.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex has a 52-week low of $193.49 and a 52-week high of $257.85. The firm’s 50-day moving average is $233.46 and its 200-day moving average is $223.73.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.64 EPS. Sell-side analysts predict that Teleflex will post 13.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TFX. Mizuho lowered their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Truist Financial reissued a “hold” rating and issued a $227.00 price target (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Royal Bank of Canada lowered their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

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.