Teleflex (NYSE:TFX) Rating Lowered to Sector Perform at Royal Bank of Canada

Royal Bank of Canada lowered shares of Teleflex (NYSE:TFX) from an outperform rating to a sector perform rating in a research report released on Friday, Marketbeat.com reports. They currently have $155.00 price target on the medical technology company’s stock, down from their previous price target of $220.00.

TFX has been the topic of a number of other reports. Truist Financial reduced their price target on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Piper Sandler reissued a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a research report on Friday. Finally, Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Teleflex currently has an average rating of “Hold” and a consensus target price of $196.83.

Teleflex Stock Performance

Shares of TFX stock opened at $132.58 on Friday. The business’s fifty day simple moving average is $175.44 and its 200-day simple moving average is $205.04. The company has a market cap of $6.16 billion, a PE ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex has a 12-month low of $130.60 and a 12-month high of $249.90.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. The business had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Analysts expect that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s payout ratio is 27.04%.

Institutional Investors Weigh In On Teleflex

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in Teleflex in the fourth quarter valued at $29,000. Avior Wealth Management LLC boosted its holdings in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Teleflex in the third quarter valued at $40,000. True Wealth Design LLC boosted its holdings in Teleflex by 16,600.0% in the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Teleflex in the third quarter valued at $54,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.