Teleflex (NYSE:TFX) Price Target Cut to $200.00 by Analysts at Truist Financial

Teleflex (NYSE:TFX) had its price objective cut by Truist Financial from $227.00 to $200.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the medical technology company’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada lowered their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Monday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.14.

Teleflex Stock Down 3.2 %

Teleflex stock opened at $172.66 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The firm has a 50 day moving average price of $204.80 and a 200 day moving average price of $219.97. Teleflex has a fifty-two week low of $172.45 and a fifty-two week high of $256.85. The company has a market capitalization of $8.02 billion, a PE ratio of 34.33, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the previous year, the business earned $3.64 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts expect that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, November 15th. Teleflex’s dividend payout ratio is presently 27.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. boosted its holdings in shares of Teleflex by 564.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after buying an additional 263,743 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock valued at $1,329,704,000 after purchasing an additional 147,147 shares during the period. Ceredex Value Advisors LLC purchased a new position in Teleflex during the 2nd quarter worth approximately $25,550,000. Finally, FMR LLC increased its position in Teleflex by 70.1% during the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock worth $66,650,000 after buying an additional 111,086 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

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.