Teleflex Incorporated (NYSE:TFX) Given Average Recommendation of “Moderate Buy” by Brokerages

Teleflex Incorporated (NYSE:TFX) has been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $267.50.

A number of analysts recently issued reports on TFX shares. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research note on Friday, February 23rd. Truist Financial cut their price target 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, Royal Bank of Canada lowered their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd.

Insider Buying and Selling at Teleflex

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

Hedge Funds Weigh In On Teleflex

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP increased its position in Teleflex by 332.3% during the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 103 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Teleflex during the 3rd quarter valued at approximately $27,000. Covestor Ltd lifted its holdings in Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Riverview Trust Co purchased a new position in Teleflex in the first quarter worth approximately $31,000. Finally, Lindbrook Capital LLC increased its stake in Teleflex by 75.3% during the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Stock Performance

NYSE TFX opened at $211.18 on Friday. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $276.43. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. The firm has a market capitalization of $9.95 billion, a P/E ratio of 28.05, a PEG ratio of 1.98 and a beta of 1.11. The stock has a 50-day simple moving average of $223.84 and a two-hundred day simple moving average of $225.76.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. The company had revenue of $773.90 million during the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. Teleflex’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.52 earnings per share. On average, equities analysts forecast that Teleflex will post 13.73 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st 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 Thursday, February 29th. Teleflex’s payout ratio is 18.06%.

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.