Teleflex (NYSE:TFX) Given Hold Rating at Needham & Company LLC

Teleflex (NYSE:TFX)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports.

Several other equities analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Royal Bank of Canada decreased their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho reduced their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Teleflex Stock Performance

Shares of Teleflex stock opened at $180.14 on Monday. 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 business has a fifty day simple moving average of $208.28 and a two-hundred day simple moving average of $220.73. The firm has a market capitalization of $8.37 billion, a P/E ratio of 35.81, a P/E/G ratio of 1.84 and a beta of 1.16. Teleflex has a 12 month low of $179.82 and a 12 month high of $257.85.

Teleflex (NYSE:TFX) last announced its 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 business had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.64 earnings per share. On average, equities analysts forecast that Teleflex will post 13.98 earnings per share for the current fiscal year.

Institutional Trading of Teleflex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its holdings in Teleflex by 876.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock valued at $4,538,000 after buying an additional 19,367 shares in the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Teleflex in the third quarter worth $4,800,000. Dimensional Fund Advisors LP boosted its holdings in shares of Teleflex by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock valued at $83,741,000 after purchasing an additional 15,992 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Teleflex by 19.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock worth $102,000 after purchasing an additional 80 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Teleflex by 41.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company’s stock worth $6,010,000 after acquiring an additional 7,132 shares during the last quarter. 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.