Teleflex (NYSE:TFX) Downgraded to Market Perform Rating by Raymond James

Raymond James downgraded shares of Teleflex (NYSE:TFX) from an outperform rating to a market perform rating in a research report released on Friday morning, Marketbeat reports.

Several other research analysts have also issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Mizuho decreased their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Teleflex currently has a consensus rating of “Hold” and an average target price of $196.83.

Teleflex Trading Down 4.7 %

NYSE TFX opened at $132.58 on Friday. Teleflex has a fifty-two week low of $130.60 and a fifty-two week high of $249.90. 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 50 day simple moving average of $175.44 and a two-hundred day simple moving average of $205.04. The stock has a market cap of $6.16 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16.

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

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, March 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Vontobel Holding Ltd. boosted its stake in Teleflex by 21.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock valued at $248,000 after purchasing an additional 250 shares during the last quarter. Simplify Asset Management Inc. purchased a new stake in Teleflex during the 3rd quarter valued at $4,800,000. JPMorgan Chase & Co. boosted its stake in Teleflex by 14.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after purchasing an additional 19,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Teleflex by 5.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock valued at $19,263,000 after purchasing an additional 5,322 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Teleflex during the 4th quarter valued at $729,000. Institutional investors own 95.62% of the company’s stock.

About Teleflex

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.