Mizuho Cuts Teleflex (NYSE:TFX) Price Target to $130.00

Teleflex (NYSE:TFX) had its price target lowered by Mizuho from $150.00 to $130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the medical technology company’s stock.

A number of other research firms have also issued reports on TFX. Morgan Stanley reduced their price objective on Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Royal Bank Of Canada set a $130.00 price objective on Teleflex and gave the company a “sector perform” rating in a research report on Tuesday. Wells Fargo & Company reduced their price objective on Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Truist Financial reduced their price objective on Teleflex from $140.00 to $137.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex currently has a consensus rating of “Hold” and an average target price of $159.63.

Teleflex Stock Down 2.1%

Shares of NYSE:TFX opened at $111.18 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $120.71 and a 200 day simple moving average of $141.51. The firm has a market cap of $4.91 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. Teleflex has a 12-month low of $110.83 and a 12-month high of $249.91.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. During the same period in the previous year, the business earned $3.21 EPS. The business’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities research analysts anticipate that Teleflex will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, May 20th. Teleflex’s dividend payout ratio (DPR) is presently 42.90%.

Institutional Investors Weigh In On Teleflex

Several hedge funds have recently bought and sold shares of TFX. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Teleflex by 242.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 216 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 153 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Teleflex in the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new position in Teleflex in the 1st quarter worth about $28,000. Finally, Headlands Technologies LLC acquired a new position in Teleflex in the 4th quarter worth about $29,000. 95.62% of the stock is owned by hedge funds and other 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.