Teleflex Incorporated (NYSE:TFX) Receives $267.50 Consensus Target Price from Brokerages

Shares of Teleflex Incorporated (NYSE:TFX) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $267.50.

TFX has been the topic of several research reports. JMP Securities restated a “market outperform” rating and issued a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. Truist Financial dropped their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Royal Bank of Canada reduced their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd.

Insider Activity at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Teleflex

Institutional investors and hedge funds have recently made changes to their positions in the business. Rafferty Asset Management LLC boosted its stake in Teleflex by 6.8% during the third quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock worth $964,000 after acquiring an additional 314 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Teleflex by 243.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock worth $5,666,000 after acquiring an additional 16,110 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Teleflex by 4.3% in the third quarter. Royal London Asset Management Ltd. now owns 17,753 shares of the medical technology company’s stock valued at $3,487,000 after acquiring an additional 737 shares during the period. Raymond James & Associates increased its holdings in shares of Teleflex by 10.5% during the fourth quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock valued at $31,473,000 after acquiring an additional 11,943 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Teleflex by 8.8% during the fourth quarter. Nordea Investment Management AB now owns 2,964 shares of the medical technology company’s stock worth $738,000 after purchasing an additional 239 shares during the period. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

NYSE TFX opened at $206.58 on Friday. The stock has a market cap of $9.73 billion, a PE ratio of 27.43, a P/E/G ratio of 2.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. Teleflex has a 52-week low of $177.63 and a 52-week high of $276.43. The firm has a 50-day moving average of $222.11 and a 200-day moving average of $225.53.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.12. The company had revenue of $773.90 million for the quarter, compared to analyst estimates of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.52 earnings per share. On average, sell-side analysts anticipate that Teleflex will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. Teleflex’s payout ratio is presently 18.06%.

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.