Brokerages Set Teleflex Incorporated (NYSE:TFX) Price Target at $263.14

Shares of Teleflex Incorporated (NYSE:TFX) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $264.57.

Several research firms recently commented on TFX. Truist Financial upped their target price on Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada boosted their target price on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, May 3rd.

Teleflex Price Performance

NYSE:TFX opened at $237.13 on Friday. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13. Teleflex has a 12-month low of $177.63 and a 12-month high of $257.85. The company has a current ratio of 2.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $214.14 and its two-hundred day moving average is $221.29.

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

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.34 dividend. 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 currently 21.83%.

Hedge Funds Weigh In On Teleflex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates boosted its stake in shares of Teleflex by 10.5% in the fourth quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock valued at $31,473,000 after purchasing an additional 11,943 shares during the period. Schechter Investment Advisors LLC acquired a new position in shares of Teleflex in the fourth quarter worth about $222,000. Pallas Capital Advisors LLC purchased a new position in Teleflex in the fourth quarter valued at about $994,000. Bridge Creek Capital Management LLC increased its holdings in Teleflex by 1.8% during the 4th quarter. Bridge Creek Capital Management LLC now owns 15,833 shares of the medical technology company’s stock worth $3,948,000 after purchasing an additional 283 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Teleflex in the 4th quarter valued at approximately $386,000. 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.