Teleflex (NYSE:TFX) Given Hold Rating at Truist Financial

Truist Financial reiterated their hold rating on shares of Teleflex (NYSE:TFX) in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a $227.00 target price on the medical technology company’s stock, down from their prior target price of $255.00.

TFX has been the subject of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada reduced their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stephens lifted their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Mizuho cut their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Stock Down 1.9 %

TFX stock opened at $198.03 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The company’s 50 day simple moving average is $236.38 and its 200-day simple moving average is $223.78. Teleflex has a 12 month low of $195.51 and a 12 month high of $257.85. The firm has a market capitalization of $9.20 billion, a PE ratio of 39.37, a P/E/G ratio of 2.12 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the prior year, the company earned $3.64 EPS. Teleflex’s revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.69%. Teleflex’s dividend payout ratio is presently 27.04%.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

Hedge funds have recently made changes to their positions in the business. Cromwell Holdings LLC raised its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 49 shares during the period. Ashton Thomas Securities LLC acquired a new position in Teleflex during the 3rd quarter worth $40,000. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex in the 2nd quarter valued at about $42,000. GAMMA Investing LLC grew its stake in Teleflex by 131.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 207 shares in the last quarter. 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.