Teleflex (NYSE:TFX) Downgraded by Royal Bank of Canada to Sector Perform

Royal Bank of Canada lowered shares of Teleflex (NYSE:TFX) from an outperform rating to a sector perform rating in a report released on Friday, MarketBeat.com reports. They currently have $155.00 price target on the medical technology company’s stock, down from their prior price target of $220.00.

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

Teleflex Trading Down 4.7 %

Shares of NYSE TFX opened at $132.58 on Friday. The business’s 50 day moving average is $175.44 and its two-hundred day moving average is $205.04. 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 stock has a market capitalization of $6.16 billion, a P/E ratio of 26.36, a PEG ratio of 1.73 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $795.40 million for the quarter, compared to analysts’ expectations of $813.24 million. As a group, research analysts expect that Teleflex will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend yield of 1.03%. Teleflex’s payout ratio is 27.04%.

Institutional Trading of Teleflex

A number of large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Teleflex by 4.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock valued at $1,098,693,000 after purchasing an additional 261,279 shares during the period. Janus Henderson Group PLC raised its stake in Teleflex by 2.8% in the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after buying an additional 147,147 shares in the last quarter. State Street Corp raised its stake in Teleflex by 1.0% in the third quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after buying an additional 21,291 shares in the last quarter. Geode Capital Management LLC raised its stake in Teleflex by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company’s stock worth $202,161,000 after buying an additional 8,307 shares in the last quarter. Finally, Cooke & Bieler LP raised its stake in Teleflex by 22.1% in the fourth quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company’s stock worth $191,962,000 after buying an additional 195,150 shares in 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.