Needham & Company LLC Reiterates "Hold" Rating for Teleflex (NYSE:TFX)

Needham & Company LLC reaffirmed their hold rating on shares of Teleflex (NYSE:TFX - Free Report) in a research report released on Friday, Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Truist Financial upped their target price on shares of Teleflex from $247.00 to $255.00 and gave the company a "hold" rating in a report on Monday, October 14th. Royal Bank of Canada raised their price objective on Teleflex from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Finally, Stephens boosted their target price on Teleflex from $275.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.75.

Teleflex Stock Up 5.0 %

Shares of NYSE TFX traded up $10.15 during midday trading on Friday, reaching $211.21. The company's stock had a trading volume of 1,054,990 shares, compared to its average volume of 370,770. Teleflex has a fifty-two week low of $190.49 and a fifty-two week high of $257.85. The stock has a 50 day simple moving average of $240.17 and a 200-day simple moving average of $223.92. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.13 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to analysts' expectations of $768.68 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.64 EPS. Equities research analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. Teleflex's dividend payout ratio (DPR) is presently 24.42%.

Insider Buying and Selling

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Teleflex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teleflex during the 1st quarter worth $2,467,000. ProShare Advisors LLC lifted its holdings in shares of Teleflex by 34.1% in the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company's stock worth $2,759,000 after acquiring an additional 3,105 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Teleflex by 214.7% in the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company's stock valued at $1,503,000 after purchasing an additional 4,533 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Teleflex by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company's stock valued at $49,199,000 after purchasing an additional 6,076 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Teleflex by 15.8% during the 1st quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company's stock worth $4,245,000 after purchasing an additional 2,570 shares in the last quarter. 95.62% of the stock is currently 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.