Teleflex (NYSE:TFX) Price Target Lowered to $149.00 at Truist Financial

Teleflex (NYSE:TFX) had its price objective reduced by Truist Financial from $200.00 to $149.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the medical technology company’s stock.

Other research analysts have also issued research reports about the company. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Royal Bank of Canada lowered 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. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler reissued a “neutral” rating and issued a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $188.33.

Teleflex Price Performance

TFX stock opened at $135.31 on Monday. The firm has a 50 day moving average of $174.58 and a 200-day moving average of $203.93. The firm has a market capitalization of $6.28 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. Teleflex has a 12 month low of $128.55 and a 12 month high of $249.90. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. As a group, sell-side analysts predict that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 1.01%. The ex-dividend date is Friday, March 7th. Teleflex’s dividend payout ratio is 95.77%.

Institutional Investors Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Teleflex during the 4th quarter valued at approximately $6,528,000. Jefferies Financial Group Inc. raised its holdings in shares of Teleflex by 9.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 4,837 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 412 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Teleflex by 59.2% during the fourth quarter. Mackenzie Financial Corp now owns 36,281 shares of the medical technology company’s stock valued at $6,457,000 after acquiring an additional 13,488 shares in the last quarter. Forum Financial Management LP lifted its stake in Teleflex by 48.6% in the fourth quarter. Forum Financial Management LP now owns 1,293 shares of the medical technology company’s stock worth $230,000 after acquiring an additional 423 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Teleflex by 5.9% in the fourth quarter. Toronto Dominion Bank now owns 24,961 shares of the medical technology company’s stock valued at $4,443,000 after acquiring an additional 1,395 shares in the last quarter. 95.62% of the stock is currently owned by 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.