Teleflex (NYSE:TFX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Teleflex (NYSE:TFX) from a hold rating to a buy rating in a research report released on Tuesday morning.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial reiterated a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Mizuho decreased their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Up 0.9 %

Shares of Teleflex stock opened at $192.15 on Tuesday. Teleflex has a fifty-two week low of $189.95 and a fifty-two week high of $257.85. 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 company has a market capitalization of $8.92 billion, a P/E ratio of 38.20, a P/E/G ratio of 1.99 and a beta of 1.18. The company has a fifty day moving average of $231.39 and a 200 day moving average of $223.30.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.19% and a net margin of 7.85%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.64 earnings per share. On average, sell-side analysts anticipate that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Hedge Funds Weigh In On Teleflex

A number of institutional investors and hedge funds have recently modified their holdings of TFX. Vanguard Group Inc. lifted its position in Teleflex by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after buying an additional 96,711 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Teleflex by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after acquiring an additional 581,312 shares during the last quarter. State Street Corp boosted its stake in shares of Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after purchasing an additional 21,291 shares during the period. Geode Capital Management LLC grew its holdings in Teleflex by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock valued at $278,676,000 after purchasing an additional 5,746 shares during the last quarter. Finally, Cooke & Bieler LP raised its position in Teleflex by 23.3% in the 2nd 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 period. Hedge funds and other 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.