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

Needham & Company LLC restated their hold rating on shares of Teleflex (NYSE:TFX) in a research note released on Friday, Benzinga reports.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Stephens increased 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. Finally, Truist Financial increased their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.75.

Teleflex Trading Up 5.0 %

Shares of NYSE:TFX traded up $10.15 during trading on Friday, hitting $211.21. 1,057,520 shares of the company’s stock were exchanged, compared to its average volume of 337,919. The firm has a market cap of $9.95 billion, a P/E ratio of 41.99, a PEG ratio of 1.82 and a beta of 1.18. The firm has a 50-day moving average price of $239.55 and a two-hundred day moving average price of $223.93. The company has a current ratio of 2.42, a quick ratio of 1.44 and a debt-to-equity ratio of 0.37. Teleflex has a 1-year low of $190.49 and a 1-year high of $257.85.

Teleflex (NYSE:TFX) 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. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.64 earnings per share. Equities analysts predict that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Insider Buying and Selling

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction 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 completion of the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TFX. First Trust Direct Indexing L.P. lifted 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. acquired a new stake in Teleflex in the first quarter valued at $2,467,000. BNP Paribas Financial Markets lifted its stake in Teleflex by 54.2% in the first quarter. BNP Paribas Financial Markets now owns 61,268 shares of the medical technology company’s stock valued at $13,857,000 after acquiring an additional 21,533 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Teleflex by 6.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company’s stock valued at $328,000 after acquiring an additional 85 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Teleflex by 17.4% in the first quarter. Nordea Investment Management AB now owns 3,481 shares of the medical technology company’s stock valued at $782,000 after acquiring an additional 517 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.