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

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

Several other equities research analysts have also commented on the company. Truist Financial restated a “hold” rating and set a $227.00 price target (down from $255.00) on shares of Teleflex in a research note on Monday, November 4th. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Mizuho dropped their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Royal Bank of Canada dropped their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Teleflex Stock Performance

Teleflex stock opened at $177.25 on Monday. The firm has a market capitalization of $8.23 billion, a P/E ratio of 35.24, a PEG ratio of 1.84 and a beta of 1.16. The stock has a fifty day moving average price of $207.16 and a 200 day moving average price of $220.52. Teleflex has a 52 week low of $176.65 and a 52 week high of $257.85. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. The firm 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 business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.64 earnings per share. Equities research analysts anticipate that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, November 15th. Teleflex’s payout ratio is 27.04%.

Institutional Investors Weigh In On Teleflex

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cromwell Holdings LLC boosted its holdings in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 49 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Teleflex in the third quarter valued at about $40,000. True Wealth Design LLC boosted its holdings in Teleflex by 16,600.0% in the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Teleflex in the second quarter valued at about $42,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.