Mizuho Cuts Teleflex (NYSE:TFX) Price Target to $250.00

Teleflex (NYSE:TFX) had its price target decreased by Mizuho from $275.00 to $250.00 in a research note published on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the medical technology company’s stock.

TFX has been the topic of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday. Stephens increased their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Truist Financial increased their target price on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada increased their target price on shares of Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.75.

Teleflex Stock Performance

Shares of TFX stock opened at $211.21 on Friday. The stock’s 50-day moving average is $239.55 and its two-hundred day moving average is $224.14. The firm has a market cap of $9.95 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18. Teleflex has a 1 year low of $190.49 and a 1 year high of $257.85. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 2.42.

Teleflex (NYSE:TFX) last issued its quarterly earnings data 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. The company had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.64 earnings per share. Analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

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 given a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. Teleflex’s payout ratio is currently 27.04%.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares in the company, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Teleflex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Teleflex during the 1st quarter valued at approximately $2,467,000. ProShare Advisors LLC lifted its position in shares of Teleflex by 34.1% during the 1st quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock valued at $2,759,000 after acquiring an additional 3,105 shares during the period. Tidal Investments LLC lifted its position in shares of 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. Boston Trust Walden Corp lifted its position in shares of Teleflex by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock valued at $49,199,000 after acquiring an additional 6,076 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Teleflex by 15.8% during the 1st quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after acquiring an additional 2,570 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Company Profile

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.