Teleflex (NYSE:TFX) Downgraded by StockNews.com to Hold

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

Other research analysts have also recently issued reports about the company. Truist Financial reduced their price target on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Citizens Jmp cut Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Piper Sandler reissued a “neutral” rating and issued a $140.00 price objective (down from $255.00) on shares of Teleflex in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Teleflex currently has an average rating of “Hold” and a consensus price target of $196.83.

Teleflex Price Performance

TFX opened at $132.58 on Friday. Teleflex has a 12-month low of $130.60 and a 12-month high of $249.90. The business’s fifty day simple moving average is $175.44 and its 200-day simple moving average is $205.04. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. The business had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, equities research analysts anticipate 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, March 17th. Stockholders of record on Friday, March 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s dividend payout ratio is presently 27.04%.

Hedge Funds Weigh In On Teleflex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its stake in Teleflex by 3.7% during the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock worth $377,000 after buying an additional 55 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Teleflex by 0.3% in the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock valued at $4,844,000 after purchasing an additional 60 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Teleflex by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company’s stock valued at $3,792,000 after buying an additional 65 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Teleflex by 4.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company’s stock valued at $375,000 after buying an additional 66 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Teleflex by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company’s stock valued at $986,000 after buying an additional 66 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.