Teleflex (NYSE:TFX) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Teleflex (NYSE:TFX - Free Report) in a report issued on Friday morning, Benzinga reports.

TFX has been the subject of a number of other reports. StockNews.com downgraded Teleflex from a buy rating to a hold rating in a research note on Friday, February 23rd. Royal Bank of Canada decreased their target price on Teleflex from $272.00 to $265.00 and set an outperform rating for the company in a research note on Friday, February 23rd. Truist Financial decreased their target price on Teleflex from $270.00 to $265.00 and set a hold rating for the company in a research note on Friday, February 23rd. Finally, JMP Securities restated a market outperform rating and issued a $285.00 target price on shares of Teleflex in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $261.75.

Teleflex Stock Up 2.2 %

NYSE:TFX traded up $4.28 during mid-day trading on Friday, reaching $203.01. The stock had a trading volume of 508,387 shares, compared to its average volume of 281,471. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. Teleflex has a 1-year low of $177.63 and a 1-year high of $262.97. The stock's 50 day simple moving average is $217.97 and its two-hundred day simple moving average is $226.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.14. The business had revenue of $737.80 million during the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.09 earnings per share. Equities analysts anticipate that Teleflex will post 13.73 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.34 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. Teleflex's dividend payout ratio is presently 18.06%.

Insider Transactions at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.43% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TFX. Allworth Financial LP increased its holdings in shares of Teleflex by 332.3% in the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company's stock valued at $26,000 after buying an additional 103 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Teleflex in the third quarter valued at $27,000. Covestor Ltd increased its holdings in shares of Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Riverview Trust Co acquired a new stake in Teleflex during the 1st quarter valued at $31,000. Finally, Lindbrook Capital LLC raised its stake in Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company's stock valued at $34,000 after purchasing an additional 58 shares during the period. 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.