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

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

TFX has been the subject of a number of other reports. Mizuho decreased their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Monday, December 16th. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Royal Bank of Canada reduced their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.50.

Teleflex Stock Performance

Shares of TFX stock opened at $178.16 on Wednesday. Teleflex has a 1 year low of $171.69 and a 1 year high of $256.85. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The business has a fifty day moving average of $202.44 and a 200 day moving average of $219.40.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share 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 for the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the prior year, the company earned $3.64 EPS. Teleflex’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.76%. Teleflex’s dividend payout ratio is currently 27.04%.

Institutional Trading of Teleflex

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in Teleflex by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 80,409 shares of the medical technology company’s stock valued at $19,887,000 after acquiring an additional 2,086 shares during the period. American Trust purchased a new position in Teleflex during the third quarter valued at $212,000. Franklin Resources Inc. grew its position in shares of Teleflex by 64.3% in the third quarter. Franklin Resources Inc. now owns 9,683 shares of the medical technology company’s stock valued at $2,298,000 after purchasing an additional 3,790 shares during the period. Tidal Investments LLC increased its stake in shares of Teleflex by 29.7% during the third quarter. Tidal Investments LLC now owns 8,014 shares of the medical technology company’s stock worth $1,982,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Teleflex by 6.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 27,759 shares of the medical technology company’s stock worth $6,865,000 after purchasing an additional 1,647 shares during the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

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.