Teleflex’s (TFX) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Teleflex (NYSE:TFX) in a research note released on Friday morning, Benzinga reports.

Other equities analysts have also recently issued reports about the company. Truist Financial decreased their price objective on Teleflex from $270.00 to $265.00 and set a hold rating on the stock in a report on Friday, February 23rd. StockNews.com lowered Teleflex from a buy rating to a hold rating in a research report on Friday, February 23rd. Royal Bank of Canada reduced their price target on Teleflex from $272.00 to $265.00 and set an outperform rating on the stock in a research report on Friday, February 23rd. Finally, JMP Securities restated a market outperform rating and set a $285.00 price target on shares of Teleflex in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $261.75.

Teleflex Price Performance

Shares of TFX traded up $4.28 during trading hours on Friday, reaching $203.01. 604,098 shares of the company’s stock traded hands, compared to its average volume of 322,570. The company has a current ratio of 2.51, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $217.97 and its 200-day simple moving average is $226.02. The stock has a market cap of $9.56 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.90 and a beta of 1.13. Teleflex has a 12 month low of $177.63 and a 12 month high of $262.97.

Teleflex (NYSE:TFX) last issued its quarterly earnings results 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 net margin of 9.82% and a return on equity of 14.78%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.09 EPS. Equities analysts expect that Teleflex will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. Teleflex’s dividend payout ratio is currently 21.83%.

Insider Transactions at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction on 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 completion of the transaction, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division purchased a new position in shares of Teleflex in the first quarter worth $678,000. FORA Capital LLC purchased a new position in shares of Teleflex in the first quarter worth $1,396,000. Daiwa Securities Group Inc. raised its stake in shares of Teleflex by 11.4% in the first quarter. Daiwa Securities Group Inc. now owns 9,912 shares of the medical technology company’s stock worth $2,242,000 after purchasing an additional 1,015 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Teleflex by 17.4% in the first quarter. Nordea Investment Management AB now owns 3,481 shares of the medical technology company’s stock worth $782,000 after purchasing an additional 517 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Teleflex by 6.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company’s stock worth $328,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

About Teleflex

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.