Teleflex (NYSE:TFX) Shares Gap Down to $219.79

Shares of Teleflex Incorporated (NYSE:TFX) gapped down prior to trading on Thursday . The stock had previously closed at $219.79, but opened at $214.00. Teleflex shares last traded at $215.72, with a volume of 393,353 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, May 3rd. Truist Financial dropped their price objective on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Royal Bank of Canada dropped their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Teleflex currently has a consensus rating of “Moderate Buy” and an average target price of $261.75.

Teleflex Stock Performance

The firm’s 50-day simple moving average is $214.01 and its 200-day simple moving average is $227.67. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $10.25 billion, a PE ratio of 34.93, a PEG ratio of 2.12 and a beta of 1.13.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same period in the previous year, the company posted $3.09 EPS. Teleflex’s revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that Teleflex Incorporated will post 13.75 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, May 14th. Teleflex’s payout ratio is 21.83%.

Insider Activity

In related news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 $2,261,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Wahed Invest LLC boosted its position in shares of Teleflex by 12.0% in the 1st quarter. Wahed Invest LLC now owns 894 shares of the medical technology company’s stock worth $202,000 after purchasing an additional 96 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Teleflex by 115.0% in the first quarter. Citizens Financial Group Inc. RI now owns 1,989 shares of the medical technology company’s stock worth $450,000 after acquiring an additional 1,064 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Teleflex during the first quarter worth about $297,000. iA Global Asset Management Inc. increased its holdings in shares of Teleflex by 11.0% during the first quarter. iA Global Asset Management Inc. now owns 3,136 shares of the medical technology company’s stock valued at $709,000 after acquiring an additional 311 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Teleflex by 13.0% in the 1st quarter. Comerica Bank now owns 14,491 shares of the medical technology company’s stock valued at $3,277,000 after purchasing an additional 1,662 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.