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

Teleflex Incorporated (NYSE:TFX) saw strong trading volume on Friday following a better than expected earnings announcement. 1,514,054 shares changed hands during mid-day 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 the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million.

Teleflex Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho decreased their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Wells Fargo & Company decreased their price target on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday. Citizens Jmp cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday. Truist Financial decreased their price target on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $220.00 to $155.00 in a report on Friday. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $196.83.

Institutional Trading of Teleflex

A number of institutional investors have recently added to or reduced their stakes in TFX. Norges Bank acquired a new stake in Teleflex in the fourth quarter valued at approximately $100,328,000. Invesco Ltd. lifted its stake in Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock valued at $190,188,000 after acquiring an additional 347,003 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Teleflex in the fourth quarter valued at approximately $46,696,000. T. Rowe Price Investment Management Inc. lifted its stake in Teleflex by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock valued at $1,098,693,000 after acquiring an additional 261,279 shares during the last quarter. Finally, Magnetar Financial LLC lifted its stake in Teleflex by 105.2% in the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock valued at $74,990,000 after acquiring an additional 215,961 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The stock’s 50 day simple moving average is $175.44 and its 200-day simple moving average is $205.04.

About Teleflex

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.