Teleflex (NYSE:TFX) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Teleflex (NYSE:TFX) from a buy rating to a hold rating in a report published on Sunday.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Morgan Stanley decreased their price objective on shares of Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Royal Bank Of Canada decreased their price objective on shares of Teleflex from $150.00 to $145.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Finally, Bank of America lowered shares of Teleflex from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $235.00 to $140.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $164.63.

Teleflex Price Performance

TFX stock opened at $121.50 on Friday. Teleflex has a 12 month low of $115.94 and a 12 month high of $249.91. 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 50-day moving average price of $123.99 and a 200 day moving average price of $146.72. The stock has a market cap of $5.37 billion, a PE ratio of 38.33, a P/E/G ratio of 1.85 and a beta of 1.08.

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

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were issued a $0.34 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.12%. Teleflex’s dividend payout ratio is currently 42.90%.

Institutional Investors Weigh In On Teleflex

Several large investors have recently modified their holdings of TFX. IFP Advisors Inc raised its holdings in shares of Teleflex by 238.5% in the 4th quarter. IFP Advisors Inc now owns 308 shares of the medical technology company’s stock valued at $55,000 after purchasing an additional 217 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Teleflex during the 4th quarter worth approximately $3,297,000. Versor Investments LP bought a new position in shares of Teleflex during the 4th quarter worth approximately $481,000. QRG Capital Management Inc. raised its stake in shares of Teleflex by 5.8% during the 4th quarter. QRG Capital Management Inc. now owns 2,178 shares of the medical technology company’s stock worth $388,000 after acquiring an additional 119 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Teleflex by 117.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 30,757 shares of the medical technology company’s stock worth $5,474,000 after acquiring an additional 16,629 shares in the last quarter. 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.