Teleflex (NYSE:TFX) Sees Large Volume Increase – Time to Buy?

Shares of Teleflex Incorporated (NYSE:TFXGet Free Report) saw unusually-strong trading volume on Friday . Approximately 198,983 shares traded hands during mid-day trading, a decline of 48% from the previous session’s volume of 381,010 shares.The stock last traded at $192.46 and had previously closed at $192.00.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TFX shares. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Stephens raised their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada cut their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $259.25.

Read Our Latest Research Report on Teleflex

Teleflex Trading Down 0.1 %

The firm has a market capitalization of $8.90 billion, a PE ratio of 38.17, a PEG ratio of 1.96 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $220.89 and its 200 day simple moving average is $222.44.

Teleflex (NYSE:TFXGet Free Report) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share 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 analyst estimates of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.64 earnings per share. On average, sell-side analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend yield of 0.71%. Teleflex’s payout ratio is currently 27.04%.

Hedge Funds Weigh In On Teleflex

A number of hedge funds have recently modified their holdings of the company. Cromwell Holdings LLC boosted its position in shares of Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Teleflex during the third quarter valued at $40,000. True Wealth Design LLC increased its stake in Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after buying an additional 166 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Teleflex in the 2nd quarter worth about $42,000. 95.62% of the stock is currently owned by institutional investors.

Teleflex Company Profile

(Get Free Report)

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.

Further Reading

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