Teleflex (NYSE:TFX) Given New $241.00 Price Target at Truist Financial

Teleflex (NYSE:TFXGet Rating) had its price objective lowered by Truist Financial from $265.00 to $241.00 in a research report sent to investors on Thursday morning, The Fly reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

Several other equities analysts have also commented on TFX. StockNews.com lowered Teleflex from a buy rating to a hold rating in a research note on Friday, July 29th. Morgan Stanley cut their price target on Teleflex from $300.00 to $278.00 and set an equal weight rating on the stock in a research note on Friday, July 29th. Wolfe Research assumed coverage on Teleflex in a research note on Tuesday, July 5th. They set an outperform rating and a $300.00 price target on the stock. Piper Sandler cut their price target on Teleflex from $295.00 to $265.00 in a research note on Thursday, July 28th. Finally, Wells Fargo & Company lowered Teleflex from an overweight rating to an equal weight rating and set a $248.00 target price on the stock. in a research note on Friday, July 29th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Teleflex presently has an average rating of Hold and a consensus price target of $322.70.

Teleflex Stock Performance

TFX stock opened at $211.88 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.27 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $241.68 and its two-hundred day simple moving average is $278.75. Teleflex has a twelve month low of $209.43 and a twelve month high of $391.39. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.17 and a beta of 1.10.

Teleflex (NYSE:TFXGet Rating) last released its earnings results on Thursday, July 28th. The medical technology company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.05. Teleflex had a return on equity of 16.84% and a net margin of 18.16%. The business had revenue of $704.50 million for the quarter, compared to analyst estimates of $719.50 million. During the same quarter last year, the firm posted $3.35 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. Analysts predict that Teleflex will post 13.13 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Friday, August 12th. Teleflex’s dividend payout ratio is presently 12.64%.

Institutional Investors Weigh In On Teleflex

Several institutional investors have recently added to or reduced their stakes in TFX. Price T Rowe Associates Inc. MD boosted its holdings in Teleflex by 20.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,335,146 shares of the medical technology company’s stock worth $2,049,196,000 after acquiring an additional 1,407,946 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of Teleflex by 484.1% during the second quarter. Ceredex Value Advisors LLC now owns 779,524 shares of the medical technology company’s stock worth $191,646,000 after purchasing an additional 646,074 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Teleflex by 487.4% during the second quarter. Brown Advisory Inc. now owns 404,946 shares of the medical technology company’s stock worth $99,556,000 after purchasing an additional 336,013 shares during the period. Eaton Vance Management lifted 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 worth $100,999,000 after purchasing an additional 166,682 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Teleflex by 170.8% during the second quarter. Thrivent Financial for Lutherans now owns 159,404 shares of the medical technology company’s stock worth $39,189,000 after purchasing an additional 100,530 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Teleflex Company Profile

(Get Rating)

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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