Teleflex (NYSE:TFX) Price Target Raised to $255.00 at Truist Financial

Teleflex (NYSE:TFX) had its price target hoisted by Truist Financial from $247.00 to $255.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

TFX has been the topic of a number of other reports. Stephens lifted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Piper Sandler upgraded shares of Teleflex from a neutral rating to an overweight rating and boosted their target price for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Finally, Royal Bank of Canada boosted their target price on shares of Teleflex from $260.00 to $275.00 and gave the stock an outperform rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $268.86.

Teleflex Stock Up 0.6 %

TFX stock opened at $237.34 on Monday. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock has a market cap of $11.18 billion, a P/E ratio of 42.61, a PEG ratio of 2.13 and a beta of 1.16. The company’s 50 day moving average is $240.26 and its two-hundred day moving average is $222.62. Teleflex has a twelve month low of $177.63 and a twelve month high of $257.85.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The business had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. Research analysts expect that Teleflex will post 13.97 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is presently 24.42%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after acquiring an additional 581,312 shares during the period. Point72 Asset Management L.P. lifted its position in Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after buying an additional 263,743 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after acquiring an additional 172,335 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Teleflex in the 2nd quarter valued at $25,550,000. Finally, National Bank of Canada FI raised its position in Teleflex by 1,008.2% in the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock valued at $24,388,000 after purchasing an additional 104,935 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

About Teleflex

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.