Teleflex’s (TFX) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Teleflex (NYSE:TFX) in a research report released on Friday morning, Benzinga reports.

Several other brokerages also recently issued reports on TFX. Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on shares of Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Truist Financial raised their price target on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.75.

Teleflex Stock Up 5.0 %

Shares of NYSE:TFX traded up $10.15 on Friday, reaching $211.21. The company had a trading volume of 1,057,520 shares, compared to its average volume of 337,919. The company has a quick ratio of 1.44, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $9.95 billion, a P/E ratio of 41.99, a P/E/G ratio of 1.82 and a beta of 1.18. The stock has a 50-day moving average price of $239.55 and a 200 day moving average price of $223.93. Teleflex has a twelve month low of $190.49 and a twelve month high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The company 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%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.64 earnings per share. On average, equities analysts expect that Teleflex will post 13.97 EPS for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Teleflex

Several institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teleflex in the first quarter worth about $2,467,000. ProShare Advisors LLC raised its stake in shares of Teleflex by 34.1% in the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock worth $2,759,000 after acquiring an additional 3,105 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Teleflex by 214.7% in the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after acquiring an additional 4,533 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Teleflex by 2.7% in the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after acquiring an additional 6,076 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock worth $4,245,000 after acquiring an additional 2,570 shares during the last quarter. 95.62% of the stock is 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.