Wells Fargo & Company Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price target lowered by Wells Fargo & Company from $214.00 to $146.00 in a report issued on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical technology company’s stock.

TFX has been the topic of several other research reports. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday. Truist Financial dropped their price objective on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Finally, Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Teleflex presently has a consensus rating of “Hold” and an average price target of $196.83.

Teleflex Stock Down 4.7 %

Shares of Teleflex stock opened at $132.58 on Friday. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex has a 1 year low of $130.60 and a 1 year high of $249.90. The company has a 50-day moving average of $175.44 and a 200 day moving average of $205.04.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. The company had revenue of $795.40 million for 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%. As a group, sell-side analysts anticipate that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, March 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. Teleflex’s dividend payout ratio is presently 27.04%.

Hedge Funds Weigh In On Teleflex

Several hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Teleflex in the 4th quarter worth approximately $29,000. Avior Wealth Management LLC increased its stake in shares of Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Teleflex during the 3rd quarter worth about $40,000. True Wealth Design LLC increased its position in shares of Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Teleflex during the 3rd quarter worth about $54,000. Institutional investors and hedge funds 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.