Teleflex (NYSE:TFX) Price Target Raised to $167.00

Teleflex (NYSE:TFX) had its price target lifted by Truist Financial from $142.00 to $167.00 in a research report report published on Monday morning, Marketbeat Ratings reports. The brokerage currently has a hold rating on the medical technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Teleflex from $159.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Royal Bank Of Canada raised their target price on Teleflex from $155.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, November 6th. UBS Group raised their target price on Teleflex from $145.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on Teleflex from $138.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. Finally, Mizuho set a $160.00 price target on Teleflex in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Teleflex has an average rating of “Moderate Buy” and an average target price of $163.30.

Teleflex Stock Up 0.7%

Shares of Teleflex stock opened at $156.32 on Monday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.04 and a beta of 0.85. The stock has a 50-day simple moving average of $133.03 and a 200-day simple moving average of $126.87. Teleflex has a 52-week low of $100.18 and a 52-week high of $156.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 1.59.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.73. The firm had revenue of $567.80 million for 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 firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.67 earnings per share. On average, equities research analysts expect that Teleflex will post 7.67 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, November 16th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. Teleflex’s dividend payout ratio is presently 16.52%.

Institutional Investors Weigh In On Teleflex

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Teleflex by 9.8% in the third quarter. GAMMA Investing LLC now owns 921 shares of the medical technology company’s stock valued at $115,000 after buying an additional 82 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Teleflex by 4.7% during the first quarter. Hsbc Holdings PLC now owns 1,861 shares of the medical technology company’s stock worth $222,000 after buying an additional 84 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Teleflex by 30.5% during the third quarter. Hantz Financial Services Inc. now owns 445 shares of the medical technology company’s stock worth $56,000 after buying an additional 104 shares in the last quarter. Baldwin Wealth Partners LLC MA increased its holdings in shares of Teleflex by 7.5% during the third quarter. Baldwin Wealth Partners LLC MA now owns 1,702 shares of the medical technology company’s stock worth $213,000 after buying an additional 119 shares in the last quarter. Finally, Allworth Financial LP raised its stake 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 acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

About Teleflex

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.