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

Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Investors 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 yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th.

Teleflex has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 1.2 %

Shares of Teleflex stock opened at $195.58 on Wednesday. The stock’s 50-day simple moving average is $234.45 and its 200 day simple moving average is $223.81. Teleflex has a 52-week low of $194.58 and a 52-week high of $257.85. The stock has a market capitalization of $9.08 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.03 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 (NYSE:TFX) last announced 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. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same period in the prior year, the business posted $3.64 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Teleflex will post 13.98 EPS for the current year.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TFX. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial reissued a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stephens upped their target price on 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 cut their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average 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.