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

Teleflex Incorporated (NYSE:TFX) saw an uptick in trading volume on Friday . 350,227 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 354,381 shares.The stock last traded at $202.78 and had previously closed at $202.08.

Analysts Set New Price Targets

A number of equities analysts have commented on TFX shares. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Truist Financial cut their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Teleflex has a consensus rating of “Moderate Buy” and a consensus price target of $257.29.

Teleflex Stock Performance

The business’s 50-day moving average is $208.37 and its 200 day moving average is $227.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. The company has a market cap of $9.58 billion, a PE ratio of 32.65, a PEG ratio of 1.96 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. The company had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. Teleflex’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.09 EPS. On average, equities research analysts predict that Teleflex Incorporated will post 13.75 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 annualized dividend and a yield of 0.67%. Teleflex’s payout ratio is currently 21.83%.

Hedge Funds Weigh In On Teleflex

A number of hedge funds have recently modified their holdings of TFX. Westwood Holdings Group Inc. grew its stake in shares of Teleflex by 25.3% in the first quarter. Westwood Holdings Group Inc. now owns 57,225 shares of the medical technology company’s stock worth $12,943,000 after purchasing an additional 11,569 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Teleflex by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the medical technology company’s stock valued at $1,606,000 after buying an additional 180 shares during the period. Boston Partners raised its holdings in shares of Teleflex by 105.9% during the first quarter. Boston Partners now owns 2,831 shares of the medical technology company’s stock valued at $640,000 after acquiring an additional 1,456 shares in the last quarter. Swedbank AB purchased a new stake in Teleflex in the first quarter worth $679,000. Finally, Wahed Invest LLC boosted its holdings in Teleflex by 12.0% in the first quarter. Wahed Invest LLC now owns 894 shares of the medical technology company’s stock valued at $202,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.