Stephens Increases Teleflex (NYSE:TFX) Price Target to $290.00

Teleflex (NYSE:TFX) had its price target lifted by Stephens from $275.00 to $290.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other research analysts have also commented on the stock. Truist Financial lifted their price objective on shares of Teleflex from $235.00 to $240.00 and gave the stock a hold rating in a research note on Tuesday, July 16th. Piper Sandler raised shares of Teleflex from a neutral rating to an overweight rating and boosted their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Needham & Company LLC reissued a hold rating on shares of Teleflex in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $265.57.

Teleflex Price Performance

TFX traded down $0.94 during trading hours on Friday, hitting $232.39. The company’s stock had a trading volume of 355,493 shares, compared to its average volume of 375,063. The business’s 50-day moving average price is $214.68 and its 200-day moving average price is $221.03. Teleflex has a 12 month low of $177.63 and a 12 month high of $257.85. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 2.28 and a beta of 1.13. The company has a current ratio of 2.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09. The company had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. Teleflex’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.41 earnings per share. Sell-side analysts expect that Teleflex will post 13.89 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.59%. Teleflex’s payout ratio is currently 21.83%.

Institutional Trading of Teleflex

Institutional investors and hedge funds have recently made changes to their positions in the company. Oak Thistle LLC bought a new position in Teleflex in the fourth quarter worth about $386,000. Venturi Wealth Management LLC raised its holdings in Teleflex by 33.3% in the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company’s stock worth $46,000 after purchasing an additional 46 shares in the last quarter. Arizona State Retirement System raised its holdings in Teleflex by 0.8% in the fourth quarter. Arizona State Retirement System now owns 12,915 shares of the medical technology company’s stock worth $3,220,000 after purchasing an additional 100 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Teleflex by 20,300.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,244 shares of the medical technology company’s stock worth $560,000 after purchasing an additional 2,233 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Teleflex by 6.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,912 shares of the medical technology company’s stock worth $2,970,000 after purchasing an additional 751 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

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.