Brokerages Set Teleflex Incorporated (NYSE:TFX) Target Price at $265.56

Shares of Teleflex Incorporated (NYSE:TFX) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $265.56.

A number of equities research analysts have recently weighed in on TFX shares. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and set a $261.00 price target for the company in a research report on Monday, December 4th. Raymond James upped their target price on Teleflex from $227.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Truist Financial reduced their target price on Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada dropped their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Finally, StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd.

Insider Activity

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teleflex

Large investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. raised its position in shares of Teleflex by 2.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,633,473 shares of the medical technology company’s stock worth $2,155,174,000 after acquiring an additional 181,393 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Teleflex by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,454,016 shares of the medical technology company’s stock valued at $1,359,904,000 after purchasing an additional 57,132 shares during the period. BlackRock Inc. grew its stake in shares of Teleflex by 0.3% in the 1st quarter. BlackRock Inc. now owns 3,982,749 shares of the medical technology company’s stock valued at $1,008,870,000 after buying an additional 13,204 shares during the period. Morgan Stanley raised its stake in Teleflex by 535.8% during the 4th quarter. Morgan Stanley now owns 2,691,192 shares of the medical technology company’s stock worth $671,803,000 after buying an additional 2,267,889 shares during the period. Finally, Wellington Management Group LLP grew its stake in Teleflex by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after acquiring an additional 52,533 shares during the period. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

NYSE:TFX opened at $223.87 on Monday. The stock has a 50 day simple moving average of $236.16 and a 200 day simple moving average of $224.08. The stock has a market cap of $10.54 billion, a P/E ratio of 29.73, a PEG ratio of 2.10 and a beta of 1.11. Teleflex has a 1-year low of $177.63 and a 1-year high of $276.43. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.12. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The company had revenue of $773.90 million during the quarter, compared to analysts’ expectations of $769.01 million. During the same quarter in the previous year, the business posted $3.52 earnings per share. Teleflex’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Teleflex will post 13.73 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.61%. Teleflex’s payout ratio is presently 18.06%.

Teleflex Company Profile

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.