Needham & Company LLC Reaffirms “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 equities research analysts also recently weighed in on the company. Royal Bank of Canada decreased their price target on Teleflex from $272.00 to $265.00 and set an outperform rating on the stock in a research note on Friday, February 23rd. StockNews.com downgraded Teleflex from a buy rating to a hold rating in a research note on Friday, February 23rd. Truist Financial reduced their price target on shares of Teleflex from $270.00 to $265.00 and set a hold rating on the stock in a research note on Friday, February 23rd. Finally, JMP Securities reissued a market outperform rating and issued a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $261.75.

Teleflex Stock Performance

TFX opened at $200.96 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41. The business has a fifty day simple moving average of $216.73 and a 200 day simple moving average of $226.68. Teleflex has a 1 year low of $177.63 and a 1 year high of $262.97. The company has a market capitalization of $9.47 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.14. The firm had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.09 EPS. Research analysts expect that Teleflex will post 13.72 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.34 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.36 annualized dividend and a dividend yield of 0.68%. Teleflex’s dividend payout ratio is 21.83%.

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 currently owned by company insiders.

Institutional Investors Weigh In On Teleflex

A number of institutional investors have recently modified their holdings of TFX. Vanguard Group Inc. raised its stake in Teleflex by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,454,016 shares of the medical technology company’s stock worth $1,359,904,000 after buying an additional 57,132 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Teleflex by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock worth $622,494,000 after acquiring an additional 52,533 shares in the last quarter. Cooke & Bieler LP lifted its stake in shares of Teleflex by 5.7% in the 4th quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock valued at $183,256,000 after purchasing an additional 39,308 shares during the period. Invesco Ltd. boosted its position in shares of Teleflex by 23.3% during the 3rd quarter. Invesco Ltd. now owns 621,445 shares of the medical technology company’s stock valued at $122,058,000 after purchasing an additional 117,401 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Teleflex by 2.5% during the third quarter. TD Asset Management Inc now owns 481,840 shares of the medical technology company’s stock worth $94,638,000 after purchasing an additional 11,796 shares during the period. 95.62% of the stock is owned by institutional investors.

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.