Teleflex Incorporated (TFX) Plans $0.34 Quarterly Dividend
Teleflex Incorporated (NYSE:TFX) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Wednesday, November 15th will be paid a dividend of 0.34 per share by the medical technology company on Friday, December 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.57%.
Teleflex has decreased its dividend payment by an average of 9.1% per year over the last three years. Teleflex has a dividend payout ratio of 16.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Teleflex to earn $9.67 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 14.1%.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.12. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The business had revenue of $534.70 million for the quarter, compared to analysts’ expectations of $522.94 million. During the same period last year, the business earned $1.80 EPS. The business’s revenue was up 17.3% on a year-over-year basis.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $241.88, for a total value of $48,376.00. Following the completion of the sale, the director now owns 8,080 shares of the company’s stock, valued at approximately $1,954,390.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.39% of the company’s stock.
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TFX has been the topic of a number of recent analyst reports. Zacks Investment Research cut Teleflex from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Leerink Swann upgraded Teleflex from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $227.00 to $266.00 in a research note on Thursday, September 7th. Deutsche Bank AG reiterated a “buy” rating and set a $238.00 target price (up from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. Jefferies Group LLC lifted their target price on Teleflex from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Finally, BidaskClub cut Teleflex from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Teleflex currently has an average rating of “Buy” and a consensus price target of $260.75.
Teleflex Company Profile
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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