Shares of Teleflex Incorporated (NYSE:TFX – Get Free Report) hit a new 52-week high on Thursday. The company traded as high as $156.75 and last traded at $154.00, with a volume of 4,500 shares trading hands. The stock had previously closed at $156.33.
Analysts Set New Price Targets
Several brokerages recently issued reports on TFX. Royal Bank Of Canada increased their price objective on Teleflex from $155.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Piper Sandler reaffirmed an “overweight” rating and set a $169.00 target price (up from $160.00) on shares of Teleflex in a research note on Friday, August 7th. Zacks Research downgraded Teleflex from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Needham & Company LLC upped their target price on Teleflex from $159.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Finally, UBS Group increased their price target on shares of Teleflex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and an average target price of $163.30.
Get Our Latest Stock Analysis on Teleflex
Teleflex Stock Performance
The firm has a 50-day simple moving average of $133.03 and a two-hundred day simple moving average of $126.87. The company has a current ratio of 2.01, a quick ratio of 1.59 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85.
Teleflex (NYSE:TFX – Get Free Report) last posted its earnings results on Thursday, November 5th. The medical technology company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.90 by $0.73. Teleflex had a net margin of 13.51% and a return on equity of 10.57%. The company had revenue of $567.80 million during the quarter, compared to the consensus estimate of $565.52 million. During the same period in the previous year, the firm posted $3.67 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Teleflex Incorporated will post 7.67 earnings per share for the current fiscal year.
Teleflex Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 16th will be given 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 payout ratio is currently 16.52%.
Institutional Investors Weigh In On Teleflex
Hedge funds have recently modified their holdings of the business. Heartland Advisors Inc. grew its position in Teleflex by 3.3% in the 3rd quarter. Heartland Advisors Inc. now owns 218,773 shares of the medical technology company’s stock worth $27,355,000 after purchasing an additional 6,925 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Teleflex by 6.2% during the third quarter. Voya Investment Management LLC now owns 3,586 shares of the medical technology company’s stock valued at $448,000 after buying an additional 208 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Teleflex by 48.6% during the third quarter. Public Sector Pension Investment Board now owns 286,801 shares of the medical technology company’s stock valued at $35,701,000 after buying an additional 93,799 shares during the last quarter. Hantz Financial Services Inc. raised its position 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 valued at $56,000 after buying an additional 104 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Teleflex by 73.6% in the third quarter. Royce & Associates LP now owns 145,882 shares of the medical technology company’s stock valued at $18,241,000 after buying an additional 61,842 shares during the period. 95.62% of the stock is owned by institutional investors.
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.
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