Teleflex (NYSE:TFX) Releases Earnings Results, Beats Expectations By $0.11 EPS

Teleflex (NYSE:TFX) issued its earnings results on Thursday. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11, Briefing.com reports. The business had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. Teleflex’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last 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 Stock Performance

Shares of NYSE:TFX traded up $10.15 during trading on Friday, hitting $211.21. 1,054,990 shares of the stock were exchanged, compared to its average volume of 370,770. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. Teleflex has a 1-year low of $190.49 and a 1-year high of $257.85. The company’s fifty day simple moving average is $240.17 and its 200-day simple moving average is $223.92.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.64%. Teleflex’s dividend payout ratio is 24.42%.

Wall Street Analyst Weigh In

TFX has been the topic of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday. Mizuho dropped their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday. Truist Financial boosted their target price on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Stephens increased their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada dropped their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.75.

Insiders Place Their Bets

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated 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 directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.