Teleflex (NYSE:TFX) Given New $275.00 Price Target at Royal Bank of Canada

Teleflex (NYSE:TFX) had its price target increased by Royal Bank of Canada from $260.00 to $275.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

A number of other research firms also recently issued reports on TFX. Truist Financial boosted their price target on shares of Teleflex from $240.00 to $247.00 and gave the company a hold rating in a research note on Monday, August 5th. Piper Sandler raised shares of Teleflex from a neutral rating to an overweight rating and boosted their price target for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens boosted their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $267.71.

Teleflex Price Performance

Shares of TFX stock opened at $236.03 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. The firm’s 50-day moving average is $240.21 and its two-hundred day moving average is $222.39. Teleflex has a 12 month low of $177.63 and a 12 month high of $257.85. The company has a market capitalization of $11.12 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. During the same period in the previous year, the firm earned $3.41 earnings per share. Teleflex’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares in the company, valued at $1,313,159.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Janus Henderson Group PLC grew its holdings in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after acquiring an additional 581,312 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings 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 buying an additional 263,743 shares in the last quarter. Cooke & Bieler LP boosted its holdings in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after buying an additional 172,335 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Teleflex in the 2nd quarter valued at $25,550,000. Finally, National Bank of Canada FI boosted its holdings in shares of Teleflex by 1,008.2% in the 2nd 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 in 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.