Wells Fargo & Company Cuts Teleflex (NYSE:TFX) Price Target to $131.00

Teleflex (NYSE:TFX) had its target price lowered by Wells Fargo & Company from $137.00 to $131.00 in a report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the medical technology company’s stock.

TFX has been the subject of a number of other research reports. Royal Bank Of Canada set a $130.00 target price on Teleflex and gave the stock a “sector perform” rating in a research report on Tuesday, July 15th. Morgan Stanley decreased their target price on Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Mizuho decreased their target price on Teleflex from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Wall Street Zen cut Teleflex from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.57.

Teleflex Stock Down 3.0%

Shares of Teleflex stock opened at $115.87 on Friday. The stock has a market capitalization of $5.12 billion, a P/E ratio of 27.26, a PEG ratio of 1.72 and a beta of 1.08. The company has a quick ratio of 1.44, a current ratio of 2.41 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $118.73 and a two-hundred day moving average price of $136.58. Teleflex has a 12-month low of $108.90 and a 12-month high of $249.90.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.36 by $0.37. The firm had revenue of $780.90 million during the quarter, compared to analysts’ expectations of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.42 earnings per share. Equities analysts expect that Teleflex will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. Teleflex’s dividend payout ratio is currently 32.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Teleflex in the fourth quarter valued at $29,000. Banque Cantonale Vaudoise acquired a new position in shares of Teleflex in the first quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Teleflex in the first quarter valued at $28,000. Finally, Brooklyn Investment Group raised its stake in shares of Teleflex by 258.6% in the first quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 150 shares in the last quarter. 95.62% of the stock is currently 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.