StockNews.com Upgrades Teleflex (NYSE:TFX) to “Buy”

StockNews.com upgraded shares of Teleflex (NYSE:TFX) from a hold rating to a buy rating in a research report report published on Tuesday morning.

TFX has been the subject of several other reports. Truist Financial reiterated a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Mizuho cut their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Up 0.9 %

TFX stock opened at $192.15 on Tuesday. Teleflex has a 12 month low of $189.95 and a 12 month high of $257.85. The firm’s 50-day moving average is $231.39 and its 200 day moving average is $223.30. The company has a market capitalization of $8.92 billion, a PE ratio of 38.20, a P/E/G ratio of 1.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

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

Teleflex Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Institutional Investors Weigh In On Teleflex

Institutional investors have recently bought and sold shares of the company. Cromwell Holdings LLC lifted its holdings in shares of Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 49 shares during the last quarter. Avior Wealth Management LLC increased its position in Teleflex by 190.6% during the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 101 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Teleflex during the 3rd quarter valued at about $40,000. True Wealth Design LLC raised its stake in Teleflex by 16,600.0% in the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after buying an additional 166 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Teleflex in the second quarter worth about $42,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.