Teleflex (NYSE:TFX) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Teleflex (NYSE:TFX) from a buy rating to a hold rating in a research note published on Friday morning.

Several other research firms also recently weighed in on TFX. Truist Financial dropped their price objective on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a report on Friday. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price (down previously from $255.00) on shares of Teleflex in a report on Friday. Raymond James cut Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $196.83.

Teleflex Stock Down 4.7 %

Shares of NYSE TFX opened at $132.58 on Friday. The stock has a market cap of $6.16 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex has a 52-week low of $130.60 and a 52-week high of $249.90. The business has a 50-day moving average price of $175.44 and a 200 day moving average price of $205.04.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Equities research analysts forecast that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, March 7th. Teleflex’s dividend payout ratio (DPR) is presently 27.04%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in shares of Teleflex during the fourth quarter worth about $29,000. Avior Wealth Management LLC raised its stake in Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 101 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Teleflex during the third quarter valued at approximately $40,000. True Wealth Design LLC raised its stake in Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after buying an additional 166 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Teleflex during the third quarter valued at approximately $54,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.