Teleflex Incorporated (NYSE:TFX) released its quarterly earnings results on Thursday. The medical technology company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13, Bloomberg Earnings reports. Teleflex had a return on equity of 13.73% and a net margin of 14.82%. The business had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. During the same quarter last year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Teleflex updated its FY17 guidance to $8.20-8.35 EPS.
Shares of Teleflex (TFX) traded down 1.21% on Friday, hitting $214.26. The stock had a trading volume of 386,731 shares. The stock has a market cap of $9.64 billion, a PE ratio of 44.47 and a beta of 1.05. The company has a 50 day moving average price of $207.61 and a 200-day moving average price of $195.00. Teleflex has a 12 month low of $136.53 and a 12 month high of $217.97.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. Teleflex’s payout ratio is 26.00%.
In other Teleflex news, Director Gretchen R. Haggerty bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average cost of $203.82 per share, for a total transaction of $203,820.00. Following the transaction, the director now owns 1,760 shares of the company’s stock, valued at $358,723.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen K. M.D. Klasko sold 5,200 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $193.56, for a total transaction of $1,006,512.00. Following the sale, the director now owns 12,880 shares in the company, valued at $2,493,052.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,546 shares of company stock worth $2,079,856. Corporate insiders own 2.39% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its stake in shares of Teleflex by 118.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 72,560 shares of the medical technology company’s stock valued at $11,692,000 after buying an additional 39,419 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Teleflex by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 45,560 shares of the medical technology company’s stock valued at $7,342,000 after buying an additional 2,074 shares in the last quarter. Independence Advisors LLC acquired a new stake in shares of Teleflex during the first quarter valued at about $215,000. Creative Planning boosted its stake in shares of Teleflex by 3.7% in the first quarter. Creative Planning now owns 2,259 shares of the medical technology company’s stock valued at $438,000 after buying an additional 81 shares in the last quarter. Finally, Pennsylvania Trust Co boosted its stake in shares of Teleflex by 0.7% in the first quarter. Pennsylvania Trust Co now owns 2,165 shares of the medical technology company’s stock valued at $419,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 92.95% of the company’s stock.
A number of equities research analysts have weighed in on the company. Jefferies Group LLC restated a “buy” rating and set a $230.00 price target on shares of Teleflex in a research report on Thursday. Needham & Company LLC restated a “buy” rating on shares of Teleflex in a research report on Friday. BidaskClub downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Leerink Swann raised their price target on Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $221.17.
About Teleflex
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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