Truist Financial Trims Teleflex (NYSE:TFX) Target Price to $219.00

Teleflex (NYSE:TFX) had its price target lowered by Truist Financial from $240.00 to $219.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Teleflex from a buy rating to a hold rating in a research report on Friday, February 23rd. Royal Bank of Canada dropped 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. Needham & Company LLC reiterated a hold rating on shares of Teleflex in a research report on Friday. Finally, JMP Securities reissued a market outperform rating and issued a $285.00 price target on shares of Teleflex in a research report on Friday, February 23rd. Four equities 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.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $261.75.

Teleflex Trading Up 2.2 %

Shares of NYSE:TFX opened at $203.01 on Friday. The stock’s 50-day moving average is $217.27 and its 200-day moving average is $226.57. Teleflex has a 52-week low of $177.63 and a 52-week high of $262.97. The company has a market cap 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. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 2.51.

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

Teleflex Announces Dividend

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

Insider Transactions at Teleflex

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

Institutional Investors Weigh In On Teleflex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC raised its position in Teleflex by 6.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock worth $964,000 after purchasing an additional 314 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Teleflex by 243.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock worth $5,666,000 after acquiring an additional 16,110 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Teleflex by 22.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,366 shares of the medical technology company’s stock valued at $341,000 after acquiring an additional 249 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Teleflex by 4.3% in the third quarter. Royal London Asset Management Ltd. now owns 17,753 shares of the medical technology company’s stock valued at $3,487,000 after acquiring an additional 737 shares during the last quarter. Finally, Raymond James & Associates increased its position in Teleflex by 10.5% in the fourth quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock worth $31,473,000 after purchasing an additional 11,943 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.