Teleflex (NYSE:TFX) Price Target Cut to $137.00 by Analysts at Truist Financial

Teleflex (NYSE:TFX) had its price target reduced by Truist Financial from $140.00 to $137.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

Several other analysts have also recently issued reports on TFX. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Piper Sandler reissued a “neutral” rating and set a $140.00 price objective (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Morgan Stanley lowered their price objective on Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Bank of America cut Teleflex from a “neutral” rating to an “underperform” rating and dropped their target price for the stock 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.com, the stock currently has an average rating of “Hold” and an average price target of $164.63.

Teleflex Trading Down 2.9 %

Teleflex stock opened at $122.78 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm’s 50 day moving average price is $134.72 and its 200-day moving average price is $169.07. Teleflex has a 1 year low of $122.73 and a 1 year high of $249.91. The stock has a market cap of $5.69 billion, a P/E ratio of 24.41, a PEG ratio of 1.73 and a beta of 1.17.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. During the same period in the previous year, the firm posted $3.21 EPS. Teleflex’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities analysts predict that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 1.11%. Teleflex’s dividend payout ratio (DPR) is 42.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. boosted its position in Teleflex by 21.9% in the 4th quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company’s stock valued at $248,000 after buying an additional 250 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Teleflex by 14.3% in the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company’s stock valued at $38,374,000 after purchasing an additional 19,466 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Teleflex by 5.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company’s stock valued at $19,263,000 after purchasing an additional 5,322 shares during the period. Lecap Asset Management Ltd. purchased a new position in Teleflex during the 4th quarter worth $729,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Teleflex by 35.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company’s stock worth $1,053,000 after purchasing an additional 1,527 shares during the period. 95.62% of the stock is currently owned by institutional investors.

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.