WAYNE, Pa. - Teleflex Incorporated (NYSE: NYSE:TFX), a global provider of medical technologies, has declared a quarterly cash dividend of thirty-four cents ($0.34) per share. The dividend is scheduled to be paid on December 16, 2024, to shareholders who are on record as of November 15, 2024.
The announcement indicates Teleflex's commitment to delivering shareholder value while continuing its mission to improve health and quality of life through its medical technology solutions. The company's diverse portfolio serves various therapeutic areas including anesthesia, emergency medicine, cardiology, radiology, surgery, and urology, among others.
Teleflex's brand portfolio includes well-known names such as Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™, Rüsch™, UroLift™, and Weck™. These brands are part of Teleflex's strategy to be the most trusted partner in healthcare, a vision supported by its focus on innovation and high-quality products.
This financial move by Teleflex is a matter of record and based on a press release statement from the company. It reflects the ongoing business operations and strategic financial management of the company, without suggesting any broader industry trends or future performance.
Investors and shareholders of Teleflex can anticipate the dividend payment in mid-December, following the closure of the record date in mid-November. The declared dividend continues the pattern of returning value to shareholders and underscores the company's stable financial position in the market.
For more information about Teleflex and its operations, interested parties can visit the company's website. However, specific inquiries regarding the dividend or investor relations should be directed to Lawrence Keusch, Vice President of Investor Relations and Strategy Development at Teleflex.
In other recent news, Teleflex Incorporated reported minor growth in its second-quarter 2024 earnings and revenue. The company recorded revenues of $749.7 million, a 0.9% year-over-year increase. Adjusted for the Italian payback measure, the revenues stood at $763.5 million, marking a 2.7% rise. The company's adjusted earnings per share also saw a slight 0.3% growth, reaching $3.42.
In addition, Teleflex's Executive Vice President and Chief Financial Officer, Thomas E. Powell, has initiated a prearranged stock trading plan permitting the sale of up to 53,754 shares of Teleflex's common stock, approximately 31% of Mr. Powell's total ownership in the company. The sales under the plan will commence in December 2024 and will be executed on the open market.
Furthermore, Teleflex has raised its 2024 revenue guidance for Palette Life Sciences to $70-72 million and initiated a $500 million share repurchase program. The company also increased its 2024 adjusted constant currency revenue growth guidance to 4.25% to 5.25%. These recent developments reflect the company's ongoing activities and strategic planning.
Teleflex also shared data from recent studies highlighting the safety and efficacy of the Barrigel rectal spacer in prostate cancer radiation therapy. The studies demonstrated low incidence of rectal wall infiltration with Barrigel, a significant reduction in unwanted side effects from prostate cancer radiation therapy, and its safe dissolution if incorrectly placed.
InvestingPro Insights
Teleflex's recent dividend declaration aligns with its long-standing commitment to shareholder returns. According to InvestingPro Tips, the company has maintained dividend payments for an impressive 48 consecutive years, showcasing its financial stability and dedication to investor value.
The company's financial health appears robust, with InvestingPro Data indicating a market capitalization of $11.08 billion. Teleflex's revenue for the last twelve months as of Q2 2024 stood at $3.01 billion, with a modest growth of 3.76% over the same period. This steady performance supports the company's ability to continue its dividend policy.
Teleflex's profitability is also noteworthy. An InvestingPro Tip reveals that analysts predict the company will be profitable this year, which is consistent with its reported gross profit margin of 55.87% for the last twelve months as of Q2 2024. This strong profitability provides a solid foundation for the company's dividend payments and overall financial strategy.
It's worth noting that Teleflex's P/E ratio stands at 42.05, which suggests the stock is trading at a premium compared to earnings. This valuation could reflect investor confidence in the company's future prospects and its consistent dividend history.
For investors seeking more comprehensive insights, InvestingPro offers additional tips and analysis on Teleflex. In fact, there are 8 more InvestingPro Tips available for TFX, providing a deeper understanding of the company's financial position and market performance.
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