Teleflex (NYSE:TFX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Teleflex (NYSE:TFX) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other brokerages have also weighed in on TFX. Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Truist Financial reiterated a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Mizuho reduced their price target 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Trading Down 1.6 %

Teleflex stock opened at $190.78 on Tuesday. 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 stock has a market cap of $8.86 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The stock has a 50-day moving average of $232.44 and a two-hundred day moving average of $223.53. Teleflex has a one year low of $190.51 and a one year high of $257.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million during 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% on a year-over-year basis. During the same period last year, the firm posted $3.64 EPS. On average, research analysts anticipate that Teleflex will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 0.71%. Teleflex’s dividend payout ratio is presently 27.04%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its holdings in shares of Teleflex by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 9,714 shares of the medical technology company’s stock worth $2,197,000 after purchasing an additional 152 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Teleflex by 10.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 1,648 shares of the medical technology company’s stock valued at $373,000 after purchasing an additional 159 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Teleflex in the 1st quarter valued at $537,000. SG Americas Securities LLC increased its position in shares of Teleflex by 415.3% during the 1st quarter. SG Americas Securities LLC now owns 6,920 shares of the medical technology company’s stock worth $1,565,000 after purchasing an additional 5,577 shares during the last quarter. Finally, Forsta AP Fonden increased its position in shares of Teleflex by 15.7% during the 1st quarter. Forsta AP Fonden now owns 10,300 shares of the medical technology company’s stock worth $2,330,000 after purchasing an additional 1,400 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.