Teleflex (NYSE:TFX) Upgraded by StockNews.com to “Buy” Rating

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

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

Teleflex Price Performance

NYSE TFX opened at $192.00 on Thursday. Teleflex has a 52 week low of $185.66 and a 52 week high of $257.85. The firm has a market capitalization of $8.92 billion, a P/E ratio of 38.17, a PEG ratio of 1.99 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $220.89 and a 200-day moving average price of $222.44.

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

Teleflex Dividend Announcement

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

Institutional Investors Weigh In On Teleflex

Large investors have recently bought and sold shares of the business. Cromwell Holdings LLC increased 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 worth $33,000 after purchasing an additional 49 shares during the last quarter. Avior Wealth Management LLC increased its position in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Teleflex during the third quarter worth $40,000. True Wealth Design LLC boosted its stake in Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after buying an additional 166 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Teleflex during the second quarter worth $42,000. 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.