Teleflex Incorporated (NYSE:TFX) announced a quarterly dividend on Thursday, July 30th, Zacks reports. Shareholders of record on Friday, August 14th will be given a dividend of 0.34 per share by the medical technology company on Tuesday, September 15th. This represents a $1.36 annualized dividend 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. Research 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 NYSE:TFX traded down $13.41 during midday trading on Friday, reaching $371.76. 2,014 shares of the company’s stock traded hands, compared to its average volume of 161,825. Teleflex has a 1 year low of $221.27 and a 1 year high of $405.07. The company has a market cap of $17.20 billion, a P/E ratio of 32.53, a PEG ratio of 3.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.38 and a current ratio of 3.60. The company has a fifty day simple moving average of $367.75 and a two-hundred day simple moving average of $350.53.
TFX has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Teleflex from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $431.00 target price on shares of Teleflex in a research report on Thursday, April 30th. Piper Sandler reduced their price objective on Teleflex from $425.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. UBS Group reduced their price objective on Teleflex from $440.00 to $410.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Raymond James increased their price objective on Teleflex from $360.00 to $400.00 and gave the company a “strong-buy” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $385.40.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $386.35, for a total value of $77,270.00. Following the completion of the sale, the director now directly owns 1,321 shares of the company’s stock, valued at approximately $510,368.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John Deren sold 1,093 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 1,253 shares of the company’s stock, valued at $413,615.30. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.
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. 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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