Teleflex (NYSE:TFX) Upgraded by StockNews.com to Buy Rating

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

A number of other brokerages have also recently issued reports on TFX. Truist Financial restated a “hold” rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Stephens lifted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Mizuho reduced their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Performance

NYSE TFX opened at $192.85 on Thursday. The company has a market capitalization of $8.96 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. 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 has a 52-week low of $185.66 and a 52-week high of $257.85. The company has a 50-day simple moving average of $219.90 and a 200 day simple moving average of $222.43.

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

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date 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 27.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC boosted its holdings in Teleflex by 214.7% during the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock valued at $1,503,000 after acquiring an additional 4,533 shares during the period. Comerica Bank increased its stake in shares of Teleflex by 13.0% in the first quarter. Comerica Bank now owns 14,491 shares of the medical technology company’s stock worth $3,277,000 after buying an additional 1,662 shares during the period. iA Global Asset Management Inc. raised its holdings in Teleflex by 11.0% during the 1st quarter. iA Global Asset Management Inc. now owns 3,136 shares of the medical technology company’s stock valued at $709,000 after buying an additional 311 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Teleflex by 115.0% during the 1st quarter. Citizens Financial Group Inc. RI now owns 1,989 shares of the medical technology company’s stock valued at $450,000 after buying an additional 1,064 shares during the period. Finally, Swedbank AB bought a new stake in Teleflex in the 1st quarter worth $679,000. 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.