Teleflex Incorporated (NYSE:TFX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Teleflex Incorporated (NYSE:TFX) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $160.80.

TFX has been the topic of several recent research reports. Zacks Research cut shares of Teleflex from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. UBS Group lifted their target price on Teleflex from $145.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Mizuho set a $160.00 price objective on shares of Teleflex in a research report on Friday. Royal Bank Of Canada raised their price objective on Teleflex from $155.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Teleflex from $138.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday.

Teleflex Stock Performance

NYSE:TFX opened at $150.89 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.60 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $132.15 and its two-hundred day moving average price is $126.09. The stock has a market cap of $6.39 billion, a P/E ratio of 18.33, a PEG ratio of 0.94 and a beta of 0.85. Teleflex has a twelve month low of $100.18 and a twelve month high of $156.67.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, November 5th. The medical technology company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.73. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. The firm had revenue of $567.80 million during the quarter, compared to analyst estimates of $565.52 million. During the same period last year, the business earned $3.67 earnings per share. The business’s revenue was up .1% on a year-over-year basis. As a group, equities analysts predict that Teleflex will post 7.22 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 16th. Teleflex’s dividend payout ratio (DPR) is presently -5.84%.

Institutional Trading of Teleflex

Hedge funds have recently bought and sold shares of the company. Maryland State Retirement & Pension System grew its holdings in shares of Teleflex by 40.5% in the third quarter. Maryland State Retirement & Pension System now owns 12,095 shares of the medical technology company’s stock worth $1,512,000 after purchasing an additional 3,486 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Teleflex by 4.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 23,801 shares of the medical technology company’s stock valued at $2,976,000 after purchasing an additional 1,071 shares during the last quarter. Keybank National Association OH acquired a new position in Teleflex in the third quarter valued at $536,000. AlphaCore Capital LLC acquired a new position in Teleflex during the third quarter worth $358,000. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Teleflex during the third quarter worth $343,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex News Summary

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $175 from $155 and maintained an “outperform” rating, implying about 16% upside from the cited share price. Royal Bank of Canada rating
• Positive Sentiment: Wells Fargo increased its target to $167 from $138, while keeping an “equal weight” rating. Mizuho also raised its target, to $160. Wells Fargo rating Mizuho price target
• Positive Sentiment: Adjusted third-quarter EPS of $2.63 topped analyst estimates of about $1.90. Revenue of $567.8 million also narrowly exceeded expectations. Third-quarter results and outlook
• Neutral Sentiment: Teleflex declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a yield of about 0.9%. Dividend announcement
• Negative Sentiment: Revenue grew only 0.2% year over year, and adjusted EPS fell from $3.67 a year earlier. The modest reported growth may limit enthusiasm despite the earnings beat. Third-quarter results and outlook

About Teleflex

Teleflex Incorporated is a global medical technology company that develops, manufactures and markets specialty medical devices. Its products are designed to support healthcare professionals in critical care and procedural settings, including vascular access, interventional cardiology and radiology, anesthesia, respiratory care, emergency medicine, surgical applications and urology.

The company’s portfolio includes catheters, access and closure devices, airway-management products, surgical instruments, pain-management devices and other technologies used in hospitals and outpatient facilities.