Teleflex (NYSE:TFX) Hits New 1-Year High - Here's Why

Key Points

• Teleflex shares reached a new 52-week high of $156.75, amid analyst upgrades and a consensus “Moderate Buy” rating with an average price target of $163.30.
• Quarterly earnings were $2.63 per share, beating the $1.90 analyst estimate; revenue of $567.8 million also slightly topped forecasts.
• The company declared a quarterly dividend of $0.34 per share, equivalent to an annualized yield of about 0.9%.

Teleflex Incorporated (NYSE:TFX - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday. The stock traded as high as $156.75 and last traded at $154.00, with a volume of 4,500 shares. The stock had previously closed at $156.33.

Wall Street Analyst Weigh In

TFX has been the subject of a number of research analyst reports. Weiss Ratings upgraded Teleflex from a "sell (d)" rating to a "hold (c)" rating in a research report on Monday. Wall Street Zen upgraded Teleflex from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. UBS Group lifted their price target on Teleflex from $145.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Mizuho set a $160.00 price objective on Teleflex in a research note on Friday, November 6th. Finally, Wells Fargo & Company upped their price objective on Teleflex from $138.00 to $167.00 and gave the company an "equal weight" rating in a report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.30.

Teleflex Stock Down 1.6%

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 1.59. The stock has a market capitalization of $6.10 billion, a P/E ratio of 18.70, a PEG ratio of 1.04 and a beta of 0.85. The stock's fifty day moving average is $133.03 and its two-hundred day moving average is $126.87.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.73. The company had revenue of $567.80 million during the quarter, compared to the consensus estimate of $565.52 million. Teleflex had a return on equity of 10.57% and a net margin of 13.51%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.67 EPS. As a group, research analysts predict that Teleflex Incorporated will post 7.67 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Teleflex's dividend payout ratio is currently 16.52%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Teleflex by 9.8% in the 3rd quarter. GAMMA Investing LLC now owns 921 shares of the medical technology company's stock worth $115,000 after purchasing an additional 82 shares during the period. Hsbc Holdings PLC raised its stake in Teleflex by 4.7% during the 1st quarter. Hsbc Holdings PLC now owns 1,861 shares of the medical technology company's stock valued at $222,000 after purchasing an additional 84 shares during the period. Hantz Financial Services Inc. raised its stake in Teleflex by 30.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 445 shares of the medical technology company's stock valued at $56,000 after purchasing an additional 104 shares during the period. Baldwin Wealth Partners LLC MA raised its stake in Teleflex by 7.5% during the 3rd quarter. Baldwin Wealth Partners LLC MA now owns 1,702 shares of the medical technology company's stock valued at $213,000 after purchasing an additional 119 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Teleflex by 91.8% in the second quarter. Allworth Financial LP now owns 349 shares of the medical technology company's stock valued at $44,000 after purchasing an additional 167 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Company Profile

Teleflex is a global medical technology company that develops, manufactures and markets single-use medical devices used by healthcare professionals in hospitals and other care settings. Its products support a range of procedures, including vascular access, anesthesia, critical care, surgery, urology and emergency medicine. The company's offerings include vascular and interventional access devices, catheters, airway management products, surgical instruments and other devices used in diagnostic and therapeutic procedures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.