Wells Fargo & Co began coverage on shares of Teleflex (NYSE:TFX) in a research note released on Tuesday morning, Benzinga reports. The brokerage issued an outperform rating and a $345.00 price objective on the medical technology company’s stock.
A number of other research firms have also issued reports on TFX. Needham & Company LLC reaffirmed a strong-buy rating and issued a $325.00 target price (up previously from $300.00) on shares of Teleflex in a research note on Friday, February 22nd. Barclays set a $287.00 target price on Teleflex and gave the company a hold rating in a research note on Friday, February 22nd. Morgan Stanley upped their target price on Teleflex from $305.00 to $315.00 and gave the company an overweight rating in a research note on Tuesday, February 26th. Zacks Investment Research raised Teleflex from a hold rating to a buy rating and set a $338.00 target price on the stock in a research note on Friday, May 10th. Finally, Raymond James upped their target price on Teleflex from $320.00 to $348.00 and gave the company a strong-buy rating in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $330.00.
Shares of NYSE:TFX opened at $309.57 on Tuesday. The company has a market cap of $14.09 billion, a PE ratio of 31.27, a PEG ratio of 2.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.41 and a current ratio of 2.27. Teleflex has a 12 month low of $226.02 and a 12 month high of $314.74.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Tuesday, May 14th. Teleflex’s dividend payout ratio is presently 13.74%.
In other Teleflex news, Director Benson Smith sold 8,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $300.15, for a total transaction of $2,551,275.00. Following the transaction, the director now owns 84,913 shares of the company’s stock, valued at approximately $25,486,636.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Cameron P. Hicks sold 1,500 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $298.14, for a total value of $447,210.00. Following the transaction, the vice president now directly owns 6,876 shares in the company, valued at approximately $2,050,010.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,400 shares of company stock worth $13,235,810. Corporate insiders own 2.36% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Teleflex by 1.0% during the 4th quarter. FMR LLC now owns 1,357,213 shares of the medical technology company’s stock worth $350,812,000 after purchasing an additional 13,908 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Teleflex by 18.5% during the 1st quarter. Janus Henderson Group PLC now owns 962,391 shares of the medical technology company’s stock worth $290,796,000 after purchasing an additional 150,201 shares during the period. American Century Companies Inc. lifted its stake in shares of Teleflex by 3.4% during the 4th quarter. American Century Companies Inc. now owns 915,405 shares of the medical technology company’s stock worth $236,614,000 after purchasing an additional 30,368 shares during the period. Geode Capital Management LLC lifted its stake in shares of Teleflex by 56.7% during the 1st quarter. Geode Capital Management LLC now owns 643,500 shares of the medical technology company’s stock worth $194,100,000 after purchasing an additional 232,786 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Teleflex by 2.1% during the 1st quarter. Marshall Wace LLP now owns 596,777 shares of the medical technology company’s stock worth $180,322,000 after purchasing an additional 12,502 shares during the period. 91.52% of the stock is currently owned by institutional investors.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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