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

Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.34 per share by the medical technology company on Friday, June 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, May 14th.

Teleflex has a payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teleflex to earn $15.19 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 9.0%.

Teleflex Stock Up 0.3 %

TFX opened at $201.52 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41. The business has a 50 day simple moving average of $216.24 and a 200-day simple moving average of $226.77. The stock has a market capitalization of $9.49 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.95 and a beta of 1.13. Teleflex has a 12 month low of $177.63 and a 12 month high of $262.97.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, beating the consensus estimate of $3.07 by $0.14. The business had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.09 EPS. On average, equities analysts anticipate that Teleflex will post 13.72 earnings per share for the current fiscal year.

Insider Transactions at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TFX. Royal Bank of Canada reduced their price objective on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Truist Financial lowered their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

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.