Brokerages Set Teleflex Incorporated (NYSE:TFX) Target Price at $267.71

Teleflex Incorporated (NYSE:TFX) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $268.86.

Several research firms have recently commented on TFX. Truist Financial boosted their price objective on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday. Royal Bank of Canada boosted their target price on shares of Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Finally, Stephens boosted their target price 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.

Teleflex Price Performance

TFX stock opened at $234.14 on Friday. Teleflex has a 12 month low of $177.63 and a 12 month high of $257.85. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $240.63 and a 200 day moving average price of $222.85. The stock has a market cap of $11.03 billion, a PE ratio of 42.04, a P/E/G ratio of 2.15 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same period in the previous year, the company earned $3.41 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Teleflex will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is currently 24.42%.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Trading of Teleflex

A number of hedge funds have recently added to or reduced their stakes in TFX. Janus Henderson Group PLC boosted its holdings in Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after buying an additional 581,312 shares in the last quarter. Point72 Asset Management L.P. raised its position in Teleflex by 564.3% during the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock worth $65,304,000 after acquiring an additional 263,743 shares during the period. Cooke & Bieler LP raised its position in Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after acquiring an additional 172,335 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Teleflex in the second quarter valued at about $25,550,000. Finally, National Bank of Canada FI raised its position in shares of Teleflex by 1,008.2% in the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock valued at $24,388,000 after buying an additional 104,935 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.