Teleflex (NYSE:TFX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Teleflex (NYSE:TFX - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other brokerages have also weighed in on TFX. Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Mizuho decreased their price objective on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a report on Friday, November 1st. Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, Truist Financial restated a "hold" rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.25.

Teleflex Stock Down 2.9 %

Shares of TFX traded down $5.60 during midday trading on Wednesday, reaching $187.47. 588,502 shares of the stock were exchanged, compared to its average volume of 380,269. The company has a market capitalization of $8.71 billion, a P/E ratio of 38.38, a PEG ratio of 1.97 and a beta of 1.18. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex has a 52 week low of $185.66 and a 52 week high of $257.85. The company's 50 day moving average is $228.26 and its two-hundred day moving average is $223.27.

Teleflex (NYSE:TFX - Get Free Report) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $764.40 million for the quarter, compared to analysts' expectations of $768.68 million. During the same quarter last year, the firm earned $3.64 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 0.73%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex's payout ratio is 27.04%.

Institutional Trading of Teleflex

Several hedge funds have recently modified their holdings of TFX. Janus Henderson Group PLC grew its holdings in shares of Teleflex by 12.0% during the first 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 during the last quarter. Point72 Asset Management L.P. raised its holdings in Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company's stock worth $65,304,000 after purchasing an additional 263,743 shares in the last quarter. Cooke & Bieler LP boosted its holdings in 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 in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Teleflex in the 2nd quarter valued at about $25,550,000. Finally, FMR LLC increased its position in shares of Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company's stock valued at $66,650,000 after buying an additional 111,086 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.