Teleflex (NYSE:TFX) Price Target Raised to $260.00 at Royal Bank of Canada

Teleflex (NYSE:TFX) had its price objective lifted by Royal Bank of Canada from $235.00 to $260.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical technology company’s stock.

Several other analysts also recently weighed in on the stock. Stephens boosted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an overweight rating in a research report on Friday. Truist Financial boosted their price objective on shares of Teleflex from $235.00 to $240.00 and gave the stock a hold rating in a research report on Tuesday, July 16th. Piper Sandler upgraded shares of Teleflex from a neutral rating to an overweight rating and boosted their price objective for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Finally, Needham & Company LLC restated a hold rating on shares of Teleflex in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $264.57.

Teleflex Trading Up 0.5 %

Shares of TFX stock opened at $237.13 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 2.58. The stock has a market capitalization of $11.17 billion, a P/E ratio of 38.06, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13. The company has a 50 day moving average price of $214.14 and a 200 day moving average price of $221.46. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same quarter in the previous year, the business posted $3.41 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Teleflex will post 13.88 EPS for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.57%. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Institutional Investors Weigh In On Teleflex

Several hedge funds have recently modified their holdings of TFX. Riverview Trust Co acquired a new position in Teleflex during the first quarter valued at approximately $31,000. Lindbrook Capital LLC lifted its position in Teleflex by 75.3% during the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. Pineridge Advisors LLC acquired a new position in Teleflex during the fourth quarter valued at approximately $35,000. Janiczek Wealth Management LLC lifted its position in shares of Teleflex by 227.1% during the fourth quarter. Janiczek Wealth Management LLC now owns 157 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 109 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.