JMP Securities Lowers Teleflex (NYSE:TFX) Price Target to $370.00

Teleflex (NYSE:TFXGet Rating) had its target price trimmed by JMP Securities from $430.00 to $370.00 in a report issued on Friday, The Fly reports. The brokerage currently has a maintains rating on the medical technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company lowered shares of Teleflex from an overweight rating to an equal weight rating and set a $248.00 price objective for the company. in a research report on Friday. Truist Financial dropped their price objective on shares of Teleflex to $270.00 in a research report on Friday, July 22nd. Bank of America began coverage on shares of Teleflex in a report on Monday, May 9th. They set a neutral rating and a $315.00 price target for the company. Morgan Stanley dropped their price target on shares of Teleflex from $343.00 to $300.00 and set an equal weight rating on the stock in a research note on Friday, July 15th. Finally, StockNews.com raised shares of Teleflex from a hold rating to a buy rating in a research report on Thursday, June 2nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $343.33.

Teleflex Price Performance

Teleflex stock opened at $245.30 on Friday. Teleflex has a 52-week low of $235.01 and a 52-week high of $405.89. The firm has a fifty day moving average of $261.06 and a 200-day moving average of $300.12. The firm has a market capitalization of $11.50 billion, a P/E ratio of 22.80, a PEG ratio of 1.69 and a beta of 1.10. The company has a quick ratio of 1.43, a current ratio of 2.27 and a debt-to-equity ratio of 0.42.

Teleflex (NYSE:TFXGet Rating) last released its quarterly earnings data on Thursday, July 28th. The medical technology company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.05. Teleflex had a net margin of 18.16% and a return on equity of 16.84%. The company had revenue of $704.50 million during the quarter, compared to analyst estimates of $719.50 million. During the same quarter in the prior year, the business earned $3.35 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, analysts predict that Teleflex will post 13.22 EPS for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 12th. Teleflex’s dividend payout ratio is currently 12.64%.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 3,014 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $283.31, for a total value of $853,896.34. Following the completion of the sale, the director now directly owns 4,320 shares of the company’s stock, valued at $1,223,899.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teleflex

Several institutional investors have recently made changes to their positions in TFX. Atlanta Capital Management Co. L L C grew its holdings in shares of Teleflex by 108.3% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,058,932 shares of the medical technology company’s stock valued at $347,838,000 after purchasing an additional 550,512 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Teleflex by 92.1% during the fourth quarter. TD Asset Management Inc. now owns 562,248 shares of the medical technology company’s stock valued at $184,687,000 after purchasing an additional 269,579 shares during the last quarter. Eaton Vance Management grew its holdings in shares of Teleflex by 141.3% during the first quarter. Eaton Vance Management now owns 284,639 shares of the medical technology company’s stock valued at $100,999,000 after purchasing an additional 166,682 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Teleflex during the first quarter valued at approximately $47,352,000. Finally, Vanguard Group Inc. grew its holdings in Teleflex by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,147,062 shares of the medical technology company’s stock worth $1,826,333,000 after buying an additional 83,858 shares in the last quarter. 92.21% of the stock is owned by institutional investors.

Teleflex Company Profile

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Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.

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