Teleflex (NYSE:TFX) Sees Large Volume Increase – Time to Buy?

Teleflex Incorporated (NYSE:TFX) shares saw unusually-high trading volume on Friday . Approximately 198,983 shares traded hands during mid-day trading, a decline of 48% from the previous session’s volume of 381,010 shares.The stock last traded at $192.46 and had previously closed at $192.00.

Wall Street Analyst Weigh In

TFX has been the topic of several recent research reports. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday. Mizuho lowered their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Stephens lifted their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Down 0.1 %

The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.90 billion, a P/E ratio of 38.17, a PEG ratio of 1.96 and a beta of 1.18. The firm’s 50 day moving average is $220.89 and its two-hundred day moving average is $222.44.

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

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Hedge Funds Weigh In On Teleflex

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cromwell Holdings LLC raised its holdings in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Teleflex in the 3rd quarter worth about $40,000. True Wealth Design LLC increased its stake in Teleflex by 16,600.0% in the 3rd 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 purchased a new stake in Teleflex in the 2nd quarter valued at about $42,000. 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.