Teleflex’s (TFX) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Teleflex (NYSE:TFX) in a research report released on Monday morning,Benzinga reports.

TFX has been the subject of a number of other reports. Mizuho reduced 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. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Truist Financial reissued a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Finally, 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.14.

Teleflex Stock Down 3.2 %

TFX stock opened at $172.66 on Monday. The firm has a market cap of $8.02 billion, a PE ratio of 34.33, a P/E/G ratio of 1.84 and a beta of 1.16. Teleflex has a 12 month low of $172.45 and a 12 month high of $256.85. 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 firm has a 50 day simple moving average of $204.80 and a 200 day simple moving average of $219.97.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share 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 analyst estimates of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $3.64 EPS. Equities research analysts forecast that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.79%. Teleflex’s dividend payout ratio is 27.04%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its stake in shares of Teleflex by 1.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock valued at $846,000 after buying an additional 46 shares in the last quarter. Cromwell Holdings LLC grew its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Teleflex by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after purchasing an additional 53 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Teleflex by 3.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after purchasing an additional 55 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Teleflex by 0.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock valued at $4,844,000 after purchasing an additional 60 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.