Brokerages Set Teleflex Incorporated (NYSE:TFX) Target Price at $267.50

Teleflex Incorporated (NYSE:TFX) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $267.50.

A number of equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Truist Financial dropped their price objective on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Royal Bank of Canada reduced their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Finally, StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd.

Insider Activity at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now owns 10,050 shares of the company’s stock, valued at $2,261,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.43% of the stock is currently owned by insiders.

Institutional Trading of Teleflex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in Teleflex by 332.3% during the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after buying an additional 103 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Teleflex during the third quarter worth approximately $27,000. Covestor Ltd raised its stake in shares of Teleflex by 305.6% during the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Teleflex during the first quarter valued at approximately $31,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Teleflex by 75.3% in the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Trading Down 2.2 %

Shares of TFX stock opened at $206.58 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. The stock has a fifty day simple moving average of $222.11 and a two-hundred day simple moving average of $225.53. The firm has a market capitalization of $9.73 billion, a PE ratio of 27.43, a PEG ratio of 2.02 and a beta of 1.11. Teleflex has a 52-week low of $177.63 and a 52-week high of $276.43.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.12. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The company had revenue of $773.90 million for the quarter, compared to the consensus estimate of $769.01 million. During the same quarter last year, the company earned $3.52 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Teleflex will post 13.73 EPS for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, February 29th. Teleflex’s payout ratio is 18.06%.

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.