Teleflex (NYSE:TFX) Price Target Raised to $260.00

Teleflex (NYSE:TFX) had its price objective increased by Royal Bank of Canada from $235.00 to $260.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the medical technology company’s stock.

A number of other research analysts have also recently issued reports on TFX. Piper Sandler raised shares of Teleflex from a neutral rating to an overweight rating and increased their target price for the company from $205.00 to $245.00 in a report on Monday, July 1st. Truist Financial increased their target price on shares of Teleflex from $235.00 to $240.00 and gave the company a hold rating in a report on Tuesday, July 16th. Stephens increased their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an overweight rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Teleflex in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $265.57.

Teleflex Stock Performance

NYSE TFX traded down $3.46 during trading hours on Friday, hitting $233.67. 414,664 shares of the stock were exchanged, compared to its average volume of 374,111. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. Teleflex has a 12-month low of $177.63 and a 12-month high of $257.85. The stock has a 50-day moving average of $214.14 and a 200 day moving average of $221.12. The company has a quick ratio of 1.41, a current ratio of 2.58 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 earnings per share. As a group, equities research analysts forecast that Teleflex will post 13.89 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. Teleflex’s dividend payout ratio is currently 21.83%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC raised its position in shares of Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. Riverview Trust Co purchased a new stake in Teleflex in the 1st quarter worth approximately $31,000. Pineridge Advisors LLC purchased a new stake in Teleflex in the 4th quarter worth approximately $35,000. Janiczek Wealth Management LLC grew its stake in Teleflex by 227.1% in the 4th quarter. Janiczek Wealth Management LLC now owns 157 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 109 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Teleflex by 33.3% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the medical technology company’s stock worth $46,000 after acquiring an additional 46 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Company Profile

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.