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

Teleflex Incorporated (NYSE:TFX - Get Free Report) saw strong 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, topping 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 business had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.04%. Teleflex's payout ratio is 95.77%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TFX shares. Truist Financial reduced their price objective on shares of Teleflex from $200.00 to $149.00 and set a "hold" rating on the stock in a report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Monday, December 16th. Raymond James cut Teleflex from an "outperform" rating to a "market perform" rating in a research report on Friday. StockNews.com cut Teleflex from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Citizens Jmp cut shares of Teleflex from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Teleflex presently has an average rating of "Hold" and an average target price of $181.43.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TFX. Headlands Technologies LLC acquired a new position in Teleflex during the fourth quarter worth approximately $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 worth $38,000 after purchasing an additional 101 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Teleflex during the 3rd quarter worth $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 worth $41,000 after purchasing an additional 166 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Teleflex during the 3rd quarter worth $54,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Stock Performance

The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.73 and a beta of 1.16. The stock's 50 day moving average is $173.65 and its two-hundred day moving average is $203.17. The company has a current ratio of 2.42, a quick ratio of 1.39 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.