Teleflex (TFX) Declares $0.34 Dividend

Teleflex said on May 8, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Previously, the company paid $0.34 per share.

Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on June 15, 2023.

At the current share price of $251.99 / share, the stock's dividend yield is 0.54%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.44%, the lowest has been 0.31%, and the highest has been 0.72%. The standard deviation of yields is 0.09 (n=236).

The current dividend yield is 1.06 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.18. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 1154 funds or institutions reporting positions in Teleflex. This is a decrease of 4 owner(s) or 0.35% in the last quarter. Average portfolio weight of all funds dedicated to TFX is 0.22%, an increase of 3.73%. Total shares owned by institutions increased in the last three months by 5.91% to 57,605K shares. The put/call ratio of TFX is 0.28, indicating a bullish outlook.

Analyst Price Forecast Suggests 8.39% Upside

As of April 24, 2023, the average one-year price target for Teleflex is 273.12. The forecasts range from a low of 243.41 to a high of $346.50. The average price target represents an increase of 8.39% from its latest reported closing price of 251.99.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Teleflex is 2,942MM, an increase of 2.86%. The projected annual non-GAAP EPS is 13.70.

What are Other Shareholders Doing?

T. Rowe Price Investment Management holds 8,633K shares representing 18.38% ownership of the company. In it's prior filing, the firm reported owning 8,452K shares, representing an increase of 2.10%. The firm increased its portfolio allocation in TFX by 21.57% over the last quarter.

Wellington Management Group Llp holds 3,093K shares representing 6.58% ownership of the company. In it's prior filing, the firm reported owning 2,881K shares, representing an increase of 6.84%. The firm increased its portfolio allocation in TFX by 25.22% over the last quarter.

RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 2,597K shares representing 5.53% ownership of the company. In it's prior filing, the firm reported owning 2,525K shares, representing an increase of 2.77%. The firm increased its portfolio allocation in TFX by 20.70% over the last quarter.

Janus Henderson Group holds 2,144K shares representing 4.56% ownership of the company. In it's prior filing, the firm reported owning 2,114K shares, representing an increase of 1.41%. The firm increased its portfolio allocation in TFX by 19.84% over the last quarter.

PRWCX - T. Rowe Price Capital Appreciation Fund holds 2,087K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 2,066K shares, representing an increase of 1.04%. The firm increased its portfolio allocation in TFX by 22.11% over the last quarter.

Teleflex Background Information
(This description is provided by the company.)

Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. The Company applys purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Its portfolio is diverse, with solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference.

This story originally appeared on Fintel.