Teleflex (NYSE:TFX) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Teleflex (NYSE:TFX) from a buy rating to a hold rating in a research note published on Wednesday morning.

A number of other analysts have also issued reports on the company. Truist Financial restated a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Royal Bank of Canada decreased their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Mizuho dropped their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Up 0.6 %

Shares of TFX stock opened at $191.71 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The business’s fifty day moving average is $224.99 and its 200-day moving average is $222.73. Teleflex has a 1 year low of $185.66 and a 1 year high of $257.85. The stock has a market cap of $8.90 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.95 and a beta of 1.18.

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

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Institutional Trading of Teleflex

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock worth $4,245,000 after acquiring an additional 2,570 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Teleflex by 5.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 26,140 shares of the medical technology company’s stock valued at $5,912,000 after purchasing an additional 1,412 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Teleflex by 26.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,313 shares of the medical technology company’s stock worth $523,000 after acquiring an additional 482 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in shares of Teleflex by 573.8% during the first quarter. UniSuper Management Pty Ltd now owns 4,629 shares of the medical technology company’s stock worth $1,047,000 after buying an additional 3,942 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Teleflex by 2.1% in the first quarter. Toronto Dominion Bank now owns 27,172 shares of the medical technology company’s stock valued at $6,145,000 after acquiring an additional 553 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

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.