Needham & Company LLC Reaffirms Hold Rating for Teleflex (NYSE:TFX)

Teleflex (NYSE:TFX)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports.

Other analysts have also issued research reports about the company. Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Truist Financial upped their price target on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.86.

Teleflex Stock Performance

Shares of TFX opened at $201.02 on Friday. The company has a market capitalization of $9.47 billion, a PE ratio of 36.09, a P/E/G ratio of 2.13 and a beta of 1.16. Teleflex has a 52-week low of $178.83 and a 52-week high of $257.85. The company has a 50-day simple moving average of $240.17 and a 200-day simple moving average of $223.92. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $3.64 EPS. Equities research analysts predict that Teleflex will post 13.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teleflex

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Teleflex by 564.3% in the 2nd 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 grew its holdings in shares of Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Teleflex during the 2nd quarter worth approximately $25,550,000. Finally, National Bank of Canada FI raised its holdings in Teleflex by 1,008.2% in the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock valued at $24,388,000 after buying an additional 104,935 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

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.