Teleflex (NYSE:TFX) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Teleflex (NYSE:TFX) in a research note released on Friday, Benzinga reports.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Teleflex from $272.00 to $265.00 and set an outperform rating for the company in a research note on Friday, February 23rd. StockNews.com lowered Teleflex from a buy rating to a hold rating in a research note on Friday, February 23rd. Truist Financial dropped their price objective on Teleflex from $270.00 to $265.00 and set a hold rating for the company in a research note on Friday, February 23rd. Finally, JMP Securities reiterated a market outperform rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $261.75.

Teleflex Trading Up 2.2 %

Shares of Teleflex stock opened at $203.01 on Friday. The company has a fifty day simple moving average of $217.27 and a 200-day simple moving average of $226.57. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.94 and a beta of 1.13. Teleflex has a 12-month low of $177.63 and a 12-month high of $262.97. The company has a current ratio of 2.51, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. The firm had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. Teleflex’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.09 EPS. On average, equities analysts forecast that Teleflex will post 13.72 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 annualized dividend and a yield of 0.67%. Teleflex’s payout ratio is currently 21.83%.

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Allworth Financial LP raised its stake in shares of Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 103 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Teleflex during the third quarter worth about $27,000. Covestor Ltd boosted its position in shares of Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after buying an additional 110 shares during the period. Riverview Trust Co acquired a new stake in shares of Teleflex in the first quarter valued at about $31,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after buying an additional 58 shares during the period. Hedge funds and other 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.