Truist Financial Cuts Teleflex (NYSE:TFX) Price Target to $200.00

Teleflex (NYSE:TFX) had its target price lowered by Truist Financial from $227.00 to $200.00 in a report published on Wednesday,Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

TFX has been the topic of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Mizuho reduced their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Royal Bank of Canada reduced their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.50.

Teleflex Trading Up 1.9 %

Shares of TFX stock opened at $178.16 on Wednesday. The company has a market cap of $8.27 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. Teleflex has a 1 year low of $171.69 and a 1 year high of $256.85. The stock’s 50 day simple moving average is $202.44 and its two-hundred day simple moving average is $219.40. 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 released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the prior year, the firm posted $3.64 EPS. Teleflex’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a $0.34 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.76%. Teleflex’s payout ratio is currently 27.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TFX. Point72 Asset Management L.P. boosted its stake in shares of Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after purchasing an additional 263,743 shares in the last quarter. Cooke & Bieler LP raised its position in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after acquiring an additional 172,335 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Teleflex by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after purchasing an additional 147,147 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Teleflex during the second quarter valued at about $25,550,000. Finally, FMR LLC grew its stake in Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock valued at $66,650,000 after purchasing an additional 111,086 shares during the last quarter. 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.