Teleflex (NYSE:TFX) Stock Lifted to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Teleflex (NYSE:TFX) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

TFX has been the topic of several other research reports. Bank of America raised shares of Teleflex from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $158.00 in a report on Monday, September 28th. Zacks Research cut shares of Teleflex from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Royal Bank Of Canada increased their price objective on shares of Teleflex from $155.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial reduced their price objective on shares of Teleflex from $150.00 to $142.00 and set a “hold” rating on the stock in a report on Wednesday, October 14th. Finally, Wells Fargo & Company raised their price objective on shares of Teleflex from $138.00 to $167.00 and gave the company an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Teleflex presently has a consensus rating of “Moderate Buy” and an average price target of $160.80.

Teleflex Price Performance

Shares of NYSE TFX opened at $150.89 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.01 and a quick ratio of 2.12. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. The stock’s 50-day moving average is $132.15 and its two-hundred day moving average is $126.09. Teleflex has a 1-year low of $100.18 and a 1-year high of $156.67.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.73. Teleflex had a return on equity of 10.57% and a net margin of 13.51%. The business had revenue of $567.80 million during the quarter, compared to analysts’ expectations of $565.52 million. During the same quarter last year, the business posted $3.67 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Analysts forecast that Teleflex will post 7.63 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 16th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, November 16th. This represents a $1.36 annualized dividend and a yield of 0.9%. Teleflex’s payout ratio is presently -5.84%.

Hedge Funds Weigh In On Teleflex

Several hedge funds have recently added to or reduced their stakes in TFX. Kelleher Financial Advisors purchased a new stake in shares of Teleflex during the 2nd quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in shares of Teleflex in the 3rd quarter valued at $27,000. Next Level Wealth Planning LLC purchased a new position in shares of Teleflex in the 3rd quarter valued at $38,000. Heritage Family Offices LLP purchased a new position in shares of Teleflex in the 3rd quarter valued at $39,000. Finally, Allworth Financial LP acquired a new stake in Teleflex during the 2nd quarter worth $44,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Teleflex

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $175 from $155 and maintained an “outperform” rating, implying about 16% upside from the cited share price. Royal Bank of Canada rating
• Positive Sentiment: Wells Fargo increased its target to $167 from $138, while keeping an “equal weight” rating. Mizuho also raised its target, to $160. Wells Fargo rating Mizuho price target
• Positive Sentiment: Adjusted third-quarter EPS of $2.63 topped analyst estimates of about $1.90. Revenue of $567.8 million also narrowly exceeded expectations. Third-quarter results and outlook
• Neutral Sentiment: Teleflex declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a yield of about 0.9%. Dividend announcement
• Negative Sentiment: Revenue grew only 0.2% year over year, and adjusted EPS fell from $3.67 a year earlier. The modest reported growth may limit enthusiasm despite the earnings beat. Third-quarter results and outlook

Teleflex Company Profile

Teleflex Incorporated is a global medical technology company that develops, manufactures and markets specialty medical devices. Its products are designed to support healthcare professionals in critical care and procedural settings, including vascular access, interventional cardiology and radiology, anesthesia, respiratory care, emergency medicine, surgical applications and urology.

The company’s portfolio includes catheters, access and closure devices, airway-management products, surgical instruments, pain-management devices and other technologies used in hospitals and outpatient facilities.