Teleflex (NYSE:TFX) Price Target Lowered to $173.00 at Morgan Stanley

Teleflex (NYSE:TFX) had its price objective cut by Morgan Stanley from $191.00 to $173.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other brokerages also recently commented on TFX. Piper Sandler restated a “neutral” rating and issued a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Citizens Jmp cut Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Truist Financial reduced their price target on shares of Teleflex from $149.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company lowered their price objective on shares of Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Mizuho set a $155.00 price target on shares of Teleflex in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $164.63.

Teleflex Trading Down 2.9 %

Shares of Teleflex stock opened at $122.78 on Monday. Teleflex has a 52-week low of $122.73 and a 52-week high of $249.91. The firm has a market capitalization of $5.69 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. 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 company’s fifty day moving average price is $134.72 and its two-hundred day moving average price is $169.07.

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

Teleflex Dividend Announcement

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

Institutional Investors Weigh In On Teleflex

A number of institutional investors have recently made changes to their positions in TFX. MassMutual Private Wealth & Trust FSB increased its stake in shares of Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Headlands Technologies LLC acquired a new position in Teleflex in the 4th quarter worth $29,000. Whipplewood Advisors LLC increased its holdings in Teleflex by 7,700.0% during the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 231 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Teleflex by 504.8% in the first quarter. Allworth Financial LP now owns 254 shares of the medical technology company’s stock valued at $34,000 after purchasing an additional 212 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Teleflex by 62.3% in the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 104 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.