Teleflex (NYSE:TFX) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Shares of Teleflex Incorporated (NYSE:TFX) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $813.24 million.

Teleflex Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday. Wells Fargo & Company lowered their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday. Truist Financial lowered their target price on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $196.83.

Hedge Funds Weigh In On Teleflex

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in Teleflex during the fourth quarter worth approximately $29,000. Avior Wealth Management LLC increased its position in Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after buying an additional 101 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Teleflex during the third quarter worth approximately $40,000. True Wealth Design LLC boosted its holdings in shares of Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after acquiring an additional 166 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Teleflex during the third quarter worth approximately $54,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Trading Down 4.7 %

The company has a market cap of $6.16 billion, a P/E ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The business has a fifty day moving average price of $175.44 and a 200-day moving average price of $204.85. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

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.