Truist Financial Cuts Teleflex (NYSE:TFX) Price Target to $200.00

Teleflex (NYSE:TFX - Free Report) had its target price decreased by Truist Financial from $227.00 to $200.00 in a report issued on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the medical technology company's stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada cut their price objective on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research report on Monday. Mizuho cut their price target on Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Finally, StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Teleflex has an average rating of "Moderate Buy" and a consensus price target of $255.14.

Teleflex Trading Down 3.2 %

NYSE TFX traded down $5.62 during mid-day trading on Wednesday, reaching $172.66. 383,249 shares of the stock were exchanged, compared to its average volume of 384,442. The stock has a market cap of $8.02 billion, a P/E ratio of 34.33, a P/E/G ratio of 1.84 and a beta of 1.16. 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 has a one year low of $172.45 and a one year high of $256.85. The stock has a 50 day simple moving average of $204.80 and a 200-day simple moving average of $219.97.

Teleflex (NYSE:TFX - Get Free Report) last released its 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 business had revenue of $764.40 million during the quarter, compared to analysts' expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.64 earnings per share. On average, analysts anticipate that Teleflex will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, November 15th. Teleflex's dividend payout ratio (DPR) is presently 27.04%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TFX. Simplify Asset Management Inc. purchased a new stake in Teleflex in the third quarter valued at approximately $4,800,000. Dimensional Fund Advisors LP increased its holdings in shares of Teleflex by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company's stock worth $83,741,000 after buying an additional 15,992 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Teleflex by 19.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company's stock valued at $102,000 after buying an additional 80 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Teleflex by 41.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company's stock worth $6,010,000 after acquiring an additional 7,132 shares during the last quarter. Finally, LGT Capital Partners LTD. grew its position in Teleflex by 4.2% in the third quarter. LGT Capital Partners LTD. now owns 231,685 shares of the medical technology company's stock worth $57,300,000 after acquiring an additional 9,411 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Teleflex Company Profile

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.