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

Needham & Company LLC reaffirmed their hold rating on shares of Teleflex (NYSE:TFX) in a research note issued to investors on Wednesday morning,Benzinga reports.

A number of other brokerages have also commented on TFX. Royal Bank of Canada lowered shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $220.00 to $155.00 in a report on Friday, February 28th. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Piper Sandler restated a “neutral” rating and set a $140.00 price objective (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Finally, Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Teleflex has an average rating of “Hold” and an average price target of $182.63.

Teleflex Trading Up 1.1 %

Shares of NYSE TFX opened at $137.79 on Wednesday. The company’s fifty day moving average is $166.99 and its 200-day moving average is $197.99. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.73 and a beta of 1.21. Teleflex has a twelve month low of $128.55 and a twelve month high of $249.90. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. The company had revenue of $795.40 million for the quarter, compared to analysts’ expectations of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Equities research analysts predict that Teleflex will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. Teleflex’s dividend payout ratio is presently 95.77%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC increased its stake 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 worth $377,000 after purchasing an additional 55 shares during the last quarter. SRS Capital Advisors Inc. increased its stake 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 worth $4,844,000 after purchasing an additional 60 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Teleflex by 4.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company’s stock worth $375,000 after purchasing an additional 66 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Teleflex by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company’s stock worth $986,000 after purchasing an additional 66 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Teleflex by 0.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,320 shares of the medical technology company’s stock worth $3,614,000 after purchasing an additional 74 shares during the last quarter. 95.62% of the stock is currently 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.