Teleflex (NYSE:TFX) Downgraded to “Underperform” Rating by Bank of America

Bank of America downgraded shares of Teleflex (NYSE:TFX) from a neutral rating to an underperform rating in a research report released on Tuesday morning, MarketBeat Ratings reports. They currently have $140.00 price target on the medical technology company’s stock, down from their previous price target of $235.00.

Several other analysts have also recently weighed in on TFX. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $220.00 to $155.00 in a research report on Friday, February 28th. Citizens Jmp cut Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Piper Sandler restated a “neutral” rating and set a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Finally, Truist Financial decreased their price target on Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $182.63.

Teleflex Price Performance

Shares of NYSE TFX opened at $136.32 on Tuesday. The firm has a market cap of $6.33 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. The business’s 50 day moving average is $171.92 and its 200-day moving average is $202.22. 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 1-year low of $128.55 and a 1-year high of $249.90.

Teleflex (NYSE:TFX) last posted 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 firm had revenue of $795.40 million for the quarter, compared to analysts’ expectations of $813.24 million. Equities research analysts predict that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. Teleflex’s dividend payout ratio is currently 95.77%.

Institutional Trading of Teleflex

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of Teleflex in the fourth quarter worth about $29,000. Avior Wealth Management LLC grew its holdings in shares of Teleflex by 190.6% during the 3rd 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 acquired a new position in Teleflex during the 3rd quarter worth approximately $40,000. True Wealth Design LLC lifted its stake in Teleflex by 16,600.0% in the 3rd 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 acquired a new stake in Teleflex in the third quarter valued at approximately $54,000. 95.62% of the stock is owned by institutional investors and hedge funds.

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.