Teleflex’s (TFX) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Teleflex (NYSE:TFX) in a research report report published on Monday morning,Benzinga reports.

A number of other research firms also recently weighed in on TFX. Mizuho decreased their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Truist Financial restated a “hold” rating and issued a $227.00 price target (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Royal Bank of Canada decreased their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Teleflex Trading Down 1.6 %

NYSE:TFX opened at $177.25 on Monday. The firm has a market cap of $8.23 billion, a P/E ratio of 35.24, a PEG ratio of 1.84 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $207.16 and its 200-day simple moving average is $220.52. Teleflex has a 12-month low of $176.65 and a 12-month high of $257.85.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the previous year, the company posted $3.64 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Teleflex will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.77%. Teleflex’s payout ratio is 27.04%.

Institutional Trading of Teleflex

Several institutional investors and hedge funds have recently made changes to their positions in TFX. Assenagon Asset Management S.A. lifted its position in shares of Teleflex by 876.7% in the second quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock valued at $4,538,000 after acquiring an additional 19,367 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after acquiring an additional 93 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Teleflex in the second quarter valued at $25,550,000. Bank of New York Mellon Corp lifted its position in shares of Teleflex by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock valued at $89,526,000 after acquiring an additional 26,325 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Teleflex in the second quarter valued at $321,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

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.