Brokerages Set Teleflex Incorporated (NYSE:TFX) Price Target at $265.56

Teleflex Incorporated (NYSE:TFX) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $265.56.

TFX has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Raymond James lifted their target price on shares of Teleflex from $227.00 to $271.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Truist Financial lowered their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a report on Friday, February 23rd.

Teleflex Price Performance

Shares of NYSE TFX opened at $223.87 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The business has a 50-day moving average of $236.16 and a 200-day moving average of $224.08. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.10 and a beta of 1.11. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $276.43.

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

Teleflex Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a yield of 0.61%. Teleflex’s dividend payout ratio (DPR) is presently 18.06%.

Insider Activity

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.41% of the company’s stock.

Institutional Trading of Teleflex

Hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new stake in shares of Teleflex during the fourth quarter worth about $237,000. PNC Financial Services Group Inc. boosted its position in Teleflex by 6.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 18,089 shares of the medical technology company’s stock worth $4,510,000 after buying an additional 1,018 shares during the period. Vanguard Group Inc. grew its holdings in Teleflex by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 5,454,016 shares of the medical technology company’s stock worth $1,359,904,000 after acquiring an additional 57,132 shares during the last quarter. Wahed Invest LLC increased its position in Teleflex by 8.9% in the 4th quarter. Wahed Invest LLC now owns 798 shares of the medical technology company’s stock valued at $199,000 after acquiring an additional 65 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Teleflex by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after acquiring an additional 52,533 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.