Teleflex (NYSE:TFX) Given New $219.00 Price Target at Truist Financial

Teleflex (NYSE:TFX) had its price objective reduced by Truist Financial from $240.00 to $219.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

TFX has been the topic of several other research reports. Needham & Company LLC reaffirmed a hold rating on shares of Teleflex in a research report on Friday. JMP Securities reaffirmed a market outperform rating and set a $285.00 price target on shares of Teleflex in a research report on Friday, February 23rd. Royal Bank of Canada cut their price target on Teleflex from $272.00 to $265.00 and set an outperform rating on the stock in a research report on Friday, February 23rd. Finally, StockNews.com lowered Teleflex from a buy rating to a hold rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex currently has an average rating of Moderate Buy and a consensus price target of $261.75.

Teleflex Stock Up 2.2 %

TFX stock traded up $4.28 during trading on Friday, hitting $203.01. 604,098 shares of the company’s stock were exchanged, compared to its average volume of 322,570. The business has a 50-day moving average price of $217.97 and a two-hundred day moving average price of $226.02. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. Teleflex has a 52-week low of $177.63 and a 52-week high of $262.97. The company has a current ratio of 2.51, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.14. The firm had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.09 earnings per share. As a group, equities research analysts expect that Teleflex will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 annualized dividend and a yield of 0.67%. Teleflex’s dividend payout ratio is presently 21.83%.

Insider Buying and Selling at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teleflex

A number of institutional investors have recently made changes to their positions in TFX. Central Pacific Bank Trust Division acquired a new stake in shares of Teleflex during the first quarter valued at $678,000. FORA Capital LLC purchased a new position in Teleflex in the 1st quarter valued at about $1,396,000. Daiwa Securities Group Inc. boosted its stake in shares of Teleflex by 11.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,912 shares of the medical technology company’s stock worth $2,242,000 after purchasing an additional 1,015 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Teleflex by 17.4% during the first quarter. Nordea Investment Management AB now owns 3,481 shares of the medical technology company’s stock worth $782,000 after buying an additional 517 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Teleflex by 6.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company’s stock worth $328,000 after buying an additional 85 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.