Teleflex (NYSE:TFX) Given Hold Rating at Needham & Company LLC

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

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

Teleflex Trading Up 2.2 %

Shares of NYSE:TFX opened at $203.01 on Friday. The business’s 50-day moving average is $217.27 and its 200 day moving average is $226.57. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.29. Teleflex has a 1 year low of $177.63 and a 1 year high of $262.97. The firm has a market capitalization of $9.56 billion, a P/E ratio of 32.59, a P/E/G ratio of 1.94 and a beta of 1.13.

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

Teleflex Announces Dividend

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

Insider Transactions at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

A number of hedge funds have recently made changes to their positions in TFX. Kentucky Retirement Systems raised its position in shares of Teleflex by 1.1% in the fourth quarter. Kentucky Retirement Systems now owns 3,760 shares of the medical technology company’s stock valued at $938,000 after buying an additional 42 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Teleflex by 33.3% in the 4th 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. Huntington National Bank boosted its holdings in shares of Teleflex by 26.5% during the 3rd quarter. Huntington National Bank now owns 253 shares of the medical technology company’s stock worth $50,000 after purchasing an additional 53 shares during the last quarter. KBC Group NV grew its position in shares of Teleflex by 1.8% in the fourth quarter. KBC Group NV now owns 3,173 shares of the medical technology company’s stock valued at $791,000 after purchasing an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Teleflex by 1.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,767 shares of the medical technology company’s stock valued at $740,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds 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.