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

Teleflex (NYSE:TFX - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports.

Other analysts have also issued reports about the company. Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. StockNews.com raised Teleflex from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Mizuho reduced their price target on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Finally, Truist Financial restated a "hold" rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.00.

Teleflex Price Performance

Shares of NYSE TFX traded down $2.89 during mid-day trading on Monday, hitting $177.25. 666,644 shares of the stock traded hands, compared to its average volume of 384,338. Teleflex has a twelve month low of $176.65 and a twelve month high of $257.85. The firm has a 50 day simple moving average of $208.28 and a two-hundred day simple moving average of $220.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The company has a market cap of $8.23 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same quarter last year, the business earned $3.64 EPS. The firm's quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Teleflex will post 13.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Teleflex by 2.8% in the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company's stock valued at $1,329,704,000 after purchasing an additional 147,147 shares during the last quarter. State Street Corp lifted its holdings in Teleflex by 1.0% during the third quarter. State Street Corp now owns 2,057,080 shares of the medical technology company's stock valued at $508,757,000 after purchasing an additional 21,291 shares during the last quarter. Geode Capital Management LLC boosted its position in Teleflex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company's stock worth $278,676,000 after purchasing an additional 5,746 shares during the period. Cooke & Bieler LP increased its stake in shares of Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company's stock worth $191,989,000 after purchasing an additional 172,335 shares in the last quarter. Finally, TD Asset Management Inc raised its position 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 during the period. Hedge funds and other 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.