Teleflex Incorporated (NYSE:TFX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Teleflex Incorporated (NYSE:TFX) have received a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $259.25.

Several research analysts have weighed in on the stock. Mizuho dropped their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday. Royal Bank of Canada dropped their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday. Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Truist Financial reissued a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Monday.

Teleflex Price Performance

Shares of NYSE:TFX opened at $207.33 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The company has a market cap of $9.77 billion, a P/E ratio of 41.22, a PEG ratio of 1.82 and a beta of 1.18. Teleflex has a 52 week low of $195.51 and a 52 week high of $257.85. The company has a 50-day moving average price of $238.86 and a 200 day moving average price of $224.13.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Teleflex’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.64 earnings per share. Research analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Insider Buying and Selling at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Teleflex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Teleflex in the third quarter worth about $40,000. Verdence Capital Advisors LLC raised its stake in Teleflex by 6.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,622 shares of the medical technology company’s stock valued at $401,000 after purchasing an additional 97 shares during the period. Capital Performance Advisors LLP purchased a new position in Teleflex during the 3rd quarter valued at approximately $54,000. Principal Financial Group Inc. grew its holdings in Teleflex by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 80,409 shares of the medical technology company’s stock valued at $19,887,000 after buying an additional 2,086 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in Teleflex during the 3rd quarter valued at approximately $59,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.