Teleflex Incorporated (NYSE:TFX) Receives $259.25 Average Price Target from Analysts

Teleflex Incorporated (NYSE:TFX) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $259.00.

A number of equities research analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Truist Financial reiterated a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Mizuho lowered their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st.

Teleflex Price Performance

TFX opened at $184.65 on Friday. Teleflex has a 12-month low of $184.23 and a 12-month high of $257.85. The stock has a fifty day simple moving average of $214.17 and a two-hundred day simple moving average of $221.36. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 36.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted 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. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.64 earnings per share. Research analysts predict that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

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 given a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.74%. Teleflex’s dividend payout ratio is presently 27.04%.

Hedge Funds Weigh In On Teleflex

Hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in Teleflex by 214.7% during the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after buying an additional 4,533 shares during the period. Comerica Bank lifted its stake in Teleflex by 13.0% during the first quarter. Comerica Bank now owns 14,491 shares of the medical technology company’s stock valued at $3,277,000 after purchasing an additional 1,662 shares during the last quarter. Swedbank AB acquired a new stake in Teleflex during the first quarter valued at approximately $679,000. Boston Partners lifted its stake in Teleflex by 105.9% during the first quarter. Boston Partners now owns 2,831 shares of the medical technology company’s stock valued at $640,000 after purchasing an additional 1,456 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Teleflex by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the medical technology company’s stock valued at $1,606,000 after purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds 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.