Teleflex (NYSE:TFX) Sees Strong Trading Volume on Strong Earnings

Teleflex Incorporated (NYSE:TFX) saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 1,514,054 shares changed hands during trading, an increase of 139% from the previous session’s volume of 632,557 shares.The stock last traded at $132.21 and had previously closed at $139.11.

The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million for the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. Teleflex’s dividend payout ratio (DPR) is 27.04%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $220.00 to $155.00 in a report on Friday. Truist Financial lowered their price target on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Piper Sandler restated a “neutral” rating and set a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $196.83.

Hedge Funds Weigh In On Teleflex

Large investors have recently bought and sold shares of the stock. Avior Wealth Management LLC increased its stake in Teleflex by 190.6% during the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 101 shares during the period. Ashton Thomas Securities LLC acquired a new position in Teleflex during the 3rd quarter valued at about $40,000. Headlands Technologies LLC acquired a new position in Teleflex during the 4th quarter valued at about $29,000. True Wealth Design LLC increased its stake in Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after buying an additional 166 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Teleflex during the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Performance

The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company’s 50 day simple moving average is $175.44 and its 200 day simple moving average is $205.04.

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.