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

Teleflex Incorporated (NYSE:TFX) saw an uptick in trading volume on Friday following a better than expected earnings announcement. 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 EPS for the quarter, beating the consensus estimate of $3.86 by $0.03. The company had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. Teleflex’s dividend payout ratio is currently 27.04%.

Analysts Set New Price Targets

A number of analysts recently commented on TFX shares. Royal Bank of Canada cut Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $220.00 to $155.00 in a research report on Friday. Wells Fargo & Company reduced their price target on Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday. Piper Sandler restated a “neutral” rating and set a $140.00 price objective (down from $255.00) on shares of Teleflex in a report on Friday. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $196.83.

Institutional Investors Weigh In On Teleflex

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in Teleflex in the 4th quarter valued at $29,000. Avior Wealth Management LLC raised its stake in Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 101 shares during the period. Ashton Thomas Securities LLC bought a new stake in Teleflex in the 3rd quarter valued at $40,000. True Wealth Design LLC raised its stake in Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 166 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Teleflex in the 3rd quarter valued at $54,000. Institutional investors own 95.62% of the company’s stock.

Teleflex Trading Down 5.1 %

The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $176.35 and a two-hundred day moving average of $205.70. The firm has a market cap of $6.13 billion, a P/E ratio of 26.29, a PEG ratio of 1.73 and a beta of 1.16.

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.