Teleflex’s (TFX) “Hold” Rating Reiterated at Truist Financial

Truist Financial reiterated their hold rating on shares of Teleflex (NYSE:TFX) in a research report released on Monday morning, Benzinga reports. The firm currently has a $227.00 price objective on the medical technology company’s stock, down from their previous price objective of $255.00.

Other analysts have also recently issued reports about the stock. Mizuho decreased their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday. Royal Bank of Canada reduced their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday. Finally, Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Price Performance

Shares of NYSE TFX traded up $0.96 during midday trading on Monday, reaching $208.29. The company’s stock had a trading volume of 18,926 shares, compared to its average volume of 370,948. Teleflex has a one year low of $195.51 and a one year high of $257.85. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.18. The company has a 50 day moving average price of $238.86 and a 200 day moving average price of $224.13. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.64 earnings per share. On average, equities research analysts expect that Teleflex will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is currently 27.04%.

Insiders Place Their Bets

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in Teleflex by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after purchasing an additional 46 shares during the period. Cromwell Holdings LLC raised its stake in Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Teleflex by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock valued at $584,000 after acquiring an additional 53 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Teleflex by 3.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after purchasing an additional 55 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Teleflex by 3.9% during the 1st quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock valued at $354,000 after purchasing an additional 58 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.