Royal Bank of Canada Lowers Teleflex (NYSE:TFX) Price Target to $245.00

Teleflex (NYSE:TFX) had its price target reduced by Royal Bank of Canada from $275.00 to $245.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

A number of other equities research analysts have also recently issued reports on TFX. Truist Financial lifted their price target on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday. Finally, Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Performance

Shares of Teleflex stock opened at $207.33 on Friday. The stock’s fifty day moving average is $238.86 and its two-hundred day moving average is $224.13. 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 company has a market capitalization of $9.63 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.18. Teleflex has a 52 week low of $195.51 and a 52 week high of $257.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping 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 quarter in the previous year, the business posted $3.64 EPS. As a group, analysts expect that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 0.66%. Teleflex’s payout ratio is currently 27.04%.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teleflex

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Teleflex by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after purchasing an additional 96,711 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after acquiring an additional 581,312 shares in the last quarter. Cooke & Bieler LP grew its holdings in shares of Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the last quarter. TD Asset Management Inc grew its holdings in Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after acquiring an additional 48,832 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Teleflex by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock valued at $89,526,000 after purchasing an additional 26,325 shares during the period. Institutional investors 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.