Teleflex (NYSE:TFX) Given “Hold” Rating at Needham & Company LLC

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

Several other research analysts also recently issued reports on TFX. StockNews.com downgraded shares of Teleflex from a buy rating to a hold rating in a research report on Friday, February 23rd. Royal Bank of Canada lowered their target price on Teleflex from $272.00 to $265.00 and set an outperform rating for the company in a research note on Friday, February 23rd. JMP Securities reiterated a market outperform rating and issued a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Finally, Truist Financial reduced their target price on shares of Teleflex from $270.00 to $265.00 and set a hold rating on the stock in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $261.75.

Teleflex Price Performance

Shares of NYSE:TFX traded up $4.28 on Friday, hitting $203.01. The stock had a trading volume of 604,098 shares, compared to its average volume of 322,570. The firm’s 50 day moving average price is $217.97 and its 200-day moving average price is $226.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 2.51. Teleflex has a twelve month low of $177.63 and a twelve month high of $262.97. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.14. The firm had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.09 earnings per share. On average, equities research analysts predict that Teleflex will post 13.73 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 annualized dividend and a yield of 0.67%. Teleflex’s dividend payout ratio is presently 21.83%.

Insider Transactions at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by insiders.

Institutional Trading of Teleflex

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kentucky Retirement Systems grew its stake in shares of Teleflex by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 3,760 shares of the medical technology company’s stock worth $938,000 after acquiring an additional 42 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Teleflex by 33.3% in the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company’s stock valued at $46,000 after acquiring an additional 46 shares during the last quarter. Huntington National Bank raised its holdings in Teleflex by 26.5% during the third quarter. Huntington National Bank now owns 253 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 53 shares in the last quarter. KBC Group NV grew its stake in Teleflex by 1.8% in the fourth quarter. KBC Group NV now owns 3,173 shares of the medical technology company’s stock valued at $791,000 after purchasing an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Teleflex by 1.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,767 shares of the medical technology company’s stock worth $740,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds 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.