Teleflex Incorporated (NYSE:TFX) Receives $259.25 Average Price Target from Brokerages

Shares of Teleflex Incorporated (NYSE:TFX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $259.25.

Several equities research analysts recently weighed in on TFX shares. Stephens upped their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price objective on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday. Truist Financial restated a "hold" rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a research note on Monday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a report on Friday.

Teleflex Stock Down 1.8 %

NYSE:TFX traded down $3.83 on Tuesday, hitting $203.50. 526,471 shares of the company's stock were exchanged, compared to its average volume of 373,381. The firm has a 50-day moving average price of $238.86 and a 200-day moving average price of $224.13. Teleflex has a 52 week low of $195.51 and a 52 week high of $257.85. The company has a market cap of $9.45 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

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

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 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 0.67%. The ex-dividend date is Friday, November 15th. Teleflex's payout ratio is 27.04%.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teleflex

A number of hedge funds have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. boosted its stake in Teleflex by 6.2% in the first quarter. First Trust Direct Indexing L.P. now owns 1,254 shares of the medical technology company's stock valued at $284,000 after acquiring an additional 73 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Teleflex during the first quarter worth $2,467,000. BNP Paribas Financial Markets raised its stake in shares of Teleflex by 54.2% during the 1st quarter. BNP Paribas Financial Markets now owns 61,268 shares of the medical technology company's stock valued at $13,857,000 after purchasing an additional 21,533 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Teleflex by 6.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company's stock worth $328,000 after purchasing an additional 85 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Teleflex by 17.4% in the 1st quarter. Nordea Investment Management AB now owns 3,481 shares of the medical technology company's stock worth $782,000 after purchasing an additional 517 shares during the period. 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.