Truist Financial Reiterates “Hold” Rating for Teleflex (NYSE:TFX)

Truist Financial restated their hold rating on shares of Teleflex (NYSE:TFX) in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a $227.00 target price on the medical technology company’s stock, down from their prior target price of $255.00.

Several other analysts have also recently commented on the stock. Stephens raised their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada decreased their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Finally, Mizuho decreased their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Performance

Teleflex stock opened at $198.03 on Monday. Teleflex has a fifty-two week low of $195.51 and a fifty-two week high of $257.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The company has a market cap of $9.20 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The firm’s 50 day simple moving average is $236.38 and its 200-day simple moving average is $223.78.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. During the same quarter in the previous year, the company posted $3.64 earnings per share. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that Teleflex will post 13.98 EPS for the current year.

Teleflex Announces Dividend

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 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is currently 27.04%.

Insider Activity at Teleflex

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

Hedge Funds Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cromwell Holdings LLC raised its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Teleflex in the 3rd quarter valued at approximately $40,000. Canada Pension Plan Investment Board acquired a new position in shares of Teleflex in the 2nd quarter worth approximately $42,000. GAMMA Investing LLC lifted its position in shares of Teleflex by 131.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after buying an additional 207 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

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.