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

Shares of Teleflex Incorporated (NYSE:TFX) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $259.25.

Several research analysts have commented on the company. Stephens lifted their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Mizuho cut their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada cut their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th.

Teleflex Stock Up 1.3 %

Shares of NYSE:TFX opened at $198.07 on Tuesday. The firm has a 50 day simple moving average of $235.39 and a 200-day simple moving average of $223.87. Teleflex has a twelve month low of $194.58 and a twelve month high of $257.85. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $9.20 billion, a PE ratio of 39.38, a P/E/G ratio of 2.00 and a beta of 1.18.

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

Teleflex Dividend Announcement

The business 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 dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.69%. Teleflex’s payout ratio is 27.04%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

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