Truist Financial Cuts Teleflex (NYSE:TFX) Price Target to $149.00

Teleflex (NYSE:TFX) had its target price reduced by Truist Financial from $200.00 to $149.00 in a report released on Monday,Benzinga reports. They currently have a hold rating on the medical technology company’s stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler reissued a “neutral” rating and issued a $140.00 price target (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Raymond James cut Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Royal Bank of Canada cut Teleflex from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $220.00 to $155.00 in a report on Friday, February 28th. Wells Fargo & Company cut their price target on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $182.63.

Teleflex Stock Performance

Shares of TFX stock opened at $134.38 on Monday. The stock has a fifty day moving average price of $172.79 and a 200 day moving average price of $202.69. The stock has a market cap of $6.24 billion, a PE ratio of 26.71, a P/E/G ratio of 1.73 and a beta of 1.16. Teleflex has a 1 year low of $128.55 and a 1 year high of $249.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Sell-side analysts forecast that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 95.77%.

Institutional Investors Weigh In On Teleflex

Institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its position in Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 101 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Teleflex during the third quarter valued at about $40,000. Headlands Technologies LLC purchased a new stake in Teleflex during the fourth quarter valued at about $29,000. True Wealth Design LLC grew its position in Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 166 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Teleflex in the third quarter worth about $54,000. Hedge funds and other institutional investors 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.