Teleflex Incorporated (NYSE:TFX) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Shareholders of record on Wednesday, November 15th will be given 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 0.53%. The ex-dividend date is Tuesday, November 14th.
Teleflex has decreased its dividend payment by an average of 9.1% annually 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 posted its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.12 EPS for the quarter, topping 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 analyst estimates of $522.94 million. During the same quarter in the previous year, the firm earned $1.80 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $241.88, for a total transaction of $48,376.00. Following the completion of the sale, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,954,390.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.39% of the stock is currently owned by company insiders.
TFX has been the topic of several analyst reports. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $261.00 price target on the stock in a report on Tuesday, September 12th. BidaskClub lowered Teleflex from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Barclays PLC reiterated an “overweight” rating and set a $253.00 price target (up previously from $230.00) on shares of Teleflex in a report on Tuesday, September 12th. Needham & Company LLC reiterated a “buy” rating on shares of Teleflex in a report on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $253.00 price target (up previously from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $266.75.
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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