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

Teleflex (NYSE:TFX) issued its earnings results on Thursday. The medical technology company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11, Briefing.com reports. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the prior year, the firm earned $3.64 earnings per share. Teleflex’s revenue for the quarter was up 2.4% on a year-over-year basis. Teleflex updated its FY 2024 guidance to 13.900-14.200 EPS and its FY24 guidance to $13.90-14.20 EPS.

Teleflex Price Performance

NYSE:TFX traded up $10.15 during trading hours on Friday, reaching $211.21. 1,057,520 shares of the company were exchanged, compared to its average volume of 370,770. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $9.95 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. Teleflex has a twelve month low of $190.49 and a twelve month high of $257.85. The stock’s 50-day moving average is $240.17 and its 200-day moving average is $223.92.

Teleflex Dividend Announcement

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

Insider Buying and Selling

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s 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 completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This represents 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. 1.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.