Morgan Stanley Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its target price cut by Morgan Stanley from $275.00 to $191.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Truist Financial dropped their price target on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research report on Monday. Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $235.00 to $140.00 in a research report on Tuesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $182.63.

Teleflex Trading Up 2.7 %

Teleflex stock opened at $134.38 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $172.79 and a two-hundred day moving average price of $202.69. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.73 and a beta of 1.16. Teleflex has a 52-week low of $128.55 and a 52-week high of $249.90.

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

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, March 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. Teleflex’s payout ratio is currently 95.77%.

Institutional Trading of Teleflex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Teleflex during the fourth quarter valued at approximately $100,328,000. Invesco Ltd. raised its holdings in shares of Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock valued at $190,188,000 after acquiring an additional 347,003 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Teleflex during the fourth quarter valued at approximately $46,696,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock valued at $1,098,693,000 after acquiring an additional 261,279 shares during the period. Finally, Magnetar Financial LLC raised its holdings in shares of Teleflex by 105.2% during the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock valued at $74,990,000 after acquiring an additional 215,961 shares during the period. 95.62% of the stock is currently owned by 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.