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

Teleflex Incorporated (NYSE:TFX) shares saw an uptick in trading volume on Friday following a stronger than expected earnings report. 1,514,054 shares traded 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 analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.03%. Teleflex’s dividend payout ratio (DPR) is currently 27.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TFX. Truist Financial reduced their target price on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company reduced their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday. Royal Bank of Canada lowered Teleflex from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $220.00 to $155.00 in a report on Friday. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $196.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TFX. Headlands Technologies LLC purchased a new stake in Teleflex during the 4th quarter valued at $29,000. Avior Wealth Management LLC boosted its stake in Teleflex by 190.6% during the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Teleflex during the 3rd quarter valued at $40,000. True Wealth Design LLC boosted its stake in Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Teleflex during the 3rd quarter valued at $54,000. Institutional investors own 95.62% of the company’s stock.

Teleflex Trading Down 5.1 %

The firm has a market capitalization of $6.13 billion, a PE ratio of 26.29, a P/E/G ratio of 1.73 and a beta of 1.16. 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 firm has a 50 day simple moving average of $176.35 and a 200 day simple moving average of $205.70.

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.