Teleflex (NYSE:TFX) Rating Increased to Buy at StockNews.com

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

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

Teleflex Stock Performance

Teleflex stock opened at $192.85 on Thursday. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 38.34, a PEG 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. The stock’s 50 day simple moving average is $219.90 and its two-hundred day simple moving average is $222.43. Teleflex has a fifty-two week low of $185.66 and a fifty-two week high of $257.85.

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

Teleflex Dividend Announcement

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

Institutional Trading of Teleflex

A number of institutional investors have recently made changes to their positions in TFX. Oregon Public Employees Retirement Fund lifted its position in Teleflex by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock valued at $846,000 after purchasing an additional 46 shares during the period. Cromwell Holdings LLC boosted its stake 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 buying an additional 49 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Teleflex by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after acquiring an additional 53 shares during the period. Apollon Wealth Management LLC increased its position in Teleflex by 3.7% during the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after acquiring an additional 55 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Teleflex by 0.3% in the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock valued at $4,844,000 after acquiring an additional 60 shares during the period. 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.