Teleflex Incorporated (NYSE:TFX) Given Average Rating of “Moderate Buy” by Brokerages

Teleflex Incorporated (NYSE:TFX) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $267.50.

A number of brokerages have weighed in on TFX. Royal Bank of Canada decreased their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Truist Financial decreased their price objective on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research report 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. Finally, JMP Securities reissued a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd.

Teleflex Trading Up 1.9 %

Shares of Teleflex stock opened at $211.18 on Friday. The company’s 50-day moving average price is $223.84 and its 200-day moving average price is $225.76. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. Teleflex has a 12-month low of $177.63 and a 12-month high of $276.43. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.98 and a beta of 1.11.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.12. The business had revenue of $773.90 million for the quarter, compared to analysts’ expectations of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.52 EPS. On average, equities analysts expect that Teleflex will post 13.73 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s payout ratio is presently 18.06%.

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the transaction, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TFX. Rafferty Asset Management LLC raised its holdings in Teleflex by 6.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock valued at $964,000 after buying an additional 314 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Teleflex by 243.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock worth $5,666,000 after purchasing an additional 16,110 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Teleflex by 4.3% in the third quarter. Royal London Asset Management Ltd. now owns 17,753 shares of the medical technology company’s stock worth $3,487,000 after purchasing an additional 737 shares during the last quarter. Raymond James & Associates grew its stake in shares of Teleflex by 10.5% in the fourth quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock worth $31,473,000 after purchasing an additional 11,943 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Teleflex by 8.8% during the 4th quarter. Nordea Investment Management AB now owns 2,964 shares of the medical technology company’s stock valued at $738,000 after purchasing an additional 239 shares during the period. Institutional investors 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.