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

Needham & Company LLC reiterated their hold rating on shares of Teleflex (NYSE:TFX) in a research report sent to investors on Friday, Benzinga reports.

A number of other research analysts have also recently issued reports on the company. Stephens raised their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price objective on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price objective on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Stock Down 1.8 %

TFX opened at $207.33 on Friday. The stock has a market cap of $9.63 billion, a PE ratio of 41.22, a P/E/G ratio of 1.92 and a beta of 1.18. 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 has a 52 week low of $195.51 and a 52 week high of $257.85. The business’s fifty day simple moving average is $238.86 and its 200 day simple moving average is $224.13.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million for 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 in the prior year, the firm earned $3.64 earnings per share. As a group, research analysts expect that Teleflex will post 13.97 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. Teleflex’s dividend payout ratio is currently 27.04%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated 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 sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.43% of the stock is currently owned by company insiders.

Institutional Trading of Teleflex

Several institutional investors and hedge funds have recently bought and sold shares of TFX. First Trust Direct Indexing L.P. lifted its holdings 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 worth $284,000 after buying an additional 73 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teleflex in the first quarter worth about $2,467,000. BNP Paribas Financial Markets lifted its holdings 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 worth $13,857,000 after buying an additional 21,533 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings 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 worth $328,000 after buying an additional 85 shares during the period. Finally, Nordea Investment Management AB lifted its holdings 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 worth $782,000 after buying an additional 517 shares during the period. 95.62% of the stock is currently 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.