Teleflex (NYSE:TFX) Price Target Lowered to $245.00 at Royal Bank of Canada

Teleflex (NYSE:TFX) had its target price lowered by Royal Bank of Canada from $275.00 to $245.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical technology company’s stock.

A number of other research firms also recently issued reports on TFX. Stephens raised their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mizuho cut their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial lifted their target price on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and an average price target of $262.75.

Teleflex Price Performance

Shares of TFX stock opened at $211.21 on Friday. Teleflex has a 1 year low of $190.49 and a 1 year high of $257.85. The company has a current ratio of 2.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $239.55 and its 200-day moving average is $224.14. The firm has a market capitalization of $9.95 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the prior year, the business earned $3.64 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Teleflex will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s dividend payout ratio is currently 27.04%.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Institutional Trading of Teleflex

A number of large investors have recently bought and sold shares of TFX. Vanguard Group Inc. boosted its holdings in shares of Teleflex by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after buying an additional 96,711 shares during the period. Janus Henderson Group PLC increased its holdings in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the period. TD Asset Management Inc lifted its holdings in shares of Teleflex by 12.0% in the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after purchasing an additional 48,832 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Teleflex by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after buying an additional 26,325 shares during the period. 95.62% of the stock is owned by institutional investors.

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.