Needham & Company LLC Reaffirms Hold Rating for Teleflex (NYSE:TFX)

Needham & Company LLC restated their hold rating on shares of Teleflex (NYSE:TFX) in a research report sent to investors on Wednesday,Benzinga reports.

A number of other research firms also recently issued reports on TFX. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley cut their price objective on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Truist Financial cut their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a report on Monday, March 3rd. Raymond James downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Finally, Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $182.63.

Teleflex Stock Performance

Shares of TFX stock opened at $137.79 on Wednesday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 1.73 and a beta of 1.21. 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 company has a 50-day simple moving average of $166.99 and a 200 day simple moving average of $197.99. Teleflex has a 52 week low of $128.55 and a 52 week high of $249.90.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping the consensus estimate of $3.86 by $0.03. The business had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. On average, sell-side analysts predict that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 7th. Teleflex’s payout ratio is presently 95.77%.

Hedge Funds Weigh In On Teleflex

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC raised its position in shares of Teleflex by 3.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after buying an additional 55 shares in the last quarter. SRS Capital Advisors Inc. increased its position in Teleflex by 0.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after purchasing an additional 60 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Teleflex by 4.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company’s stock worth $375,000 after purchasing an additional 66 shares in the last quarter. HighTower Advisors LLC increased its position in Teleflex by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company’s stock worth $986,000 after purchasing an additional 66 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Teleflex by 0.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,320 shares of the medical technology company’s stock worth $3,614,000 after purchasing an additional 74 shares in the last quarter. 95.62% of the stock is currently 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.