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

Needham & Company LLC reaffirmed their hold rating on shares of Teleflex (NYSE:TFX) in a research report report published on Friday, Benzinga reports.

Several other research analysts have also weighed in on the company. Stephens lifted their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Truist Financial raised their target price on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Performance

TFX stock opened at $207.33 on Friday. The stock has a 50-day moving average price of $238.86 and a 200-day moving average price of $224.13. Teleflex has a 1-year low of $195.51 and a 1-year high of $257.85. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The firm has a market cap of $9.63 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its quarterly earnings data 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 return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same period last year, the company posted $3.64 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is currently 27.04%.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teleflex

Several institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of Teleflex in the third quarter valued at approximately $40,000. Verdence Capital Advisors LLC grew its holdings in shares of Teleflex by 6.4% in the third quarter. Verdence Capital Advisors LLC now owns 1,622 shares of the medical technology company’s stock valued at $401,000 after acquiring an additional 97 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Teleflex in the third quarter valued at approximately $54,000. Principal Financial Group Inc. lifted its stake in Teleflex by 2.7% in the third quarter. Principal Financial Group Inc. now owns 80,409 shares of the medical technology company’s stock valued at $19,887,000 after purchasing an additional 2,086 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in Teleflex in the third quarter valued at approximately $59,000. 95.62% of the stock is owned by 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.