Teleflex (NYSE:TFX) Upgraded by Piper Sandler to Overweight

Piper Sandler upgraded shares of Teleflex (NYSE:TFX) from a neutral rating to an overweight rating in a research note published on Monday morning, MarketBeat reports. They currently have $245.00 price target on the medical technology company’s stock, up from their previous price target of $205.00.

Other analysts have also recently issued research reports about the stock. Truist Financial lowered their target price on shares of Teleflex from $240.00 to $219.00 and set a hold rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reissued a hold rating on shares of Teleflex in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $260.14.

Teleflex Stock Performance

NYSE:TFX opened at $211.44 on Monday. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.04 and a beta of 1.13. The firm’s 50-day moving average is $207.93 and its 200-day moving average is $225.71. Teleflex has a 52-week low of $177.63 and a 52-week high of $262.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51.

Teleflex (NYSE:TFX) last posted 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 business had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.09 earnings per share. Equities research analysts anticipate that Teleflex will post 13.75 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were paid 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 0.64%. Teleflex’s dividend payout ratio is 21.83%.

Institutional Trading of Teleflex

Several large investors have recently added to or reduced their stakes in TFX. Lindbrook Capital LLC lifted its position in shares of Teleflex by 75.3% during the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Teleflex during the first quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Teleflex by 418.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after purchasing an additional 113 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of Teleflex during the fourth quarter worth approximately $35,000. Finally, Janiczek Wealth Management LLC lifted its position in shares of Teleflex by 227.1% during the fourth quarter. Janiczek Wealth Management LLC now owns 157 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 109 shares in the last quarter. 95.62% of the stock is owned by 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.