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

Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Thursday, July 30th, Zacks reports. Shareholders of record on Friday, August 14th will be paid a dividend of 0.34 per share by the medical technology company on Tuesday, September 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, August 13th.

Teleflex has a payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Teleflex to earn $13.38 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 10.2%.

Shares of TFX stock traded down $14.60 on Friday, reaching $370.58. The stock had a trading volume of 43,148 shares, compared to its average volume of 161,825. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.38 and a current ratio of 3.60. Teleflex has a 1 year low of $221.27 and a 1 year high of $405.07. The stock has a market cap of $17.20 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 3.06 and a beta of 1.01. The company has a 50 day simple moving average of $367.75 and a 200 day simple moving average of $350.53.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, July 30th. The medical technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.68. The company had revenue of $567.00 million for the quarter, compared to the consensus estimate of $537.85 million. Teleflex had a return on equity of 18.96% and a net margin of 21.12%. Teleflex’s revenue was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 earnings per share. On average, equities research analysts anticipate that Teleflex will post 10.09 earnings per share for the current fiscal year.

A number of research firms recently issued reports on TFX. JMP Securities dropped their price objective on shares of Teleflex from $395.00 to $385.00 and set a “market outperform” rating on the stock in a report on Friday, May 1st. Raymond James lifted their price target on shares of Teleflex from $360.00 to $400.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 1st. SVB Leerink upped their price objective on Teleflex from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Piper Sandler lowered their target price on Teleflex from $425.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price target on Teleflex from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $385.40.

In other Teleflex news, CAO John Deren sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $330.10, for a total value of $360,799.30. Following the completion of the transaction, the chief accounting officer now directly owns 1,253 shares in the company, valued at approximately $413,615.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $386.35, for a total transaction of $77,270.00. Following the sale, the director now directly owns 1,321 shares of the company’s stock, valued at $510,368.35. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

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. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.

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Dividend History for Teleflex (NYSE:TFX)

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