Shares of Teleflex Incorporated (NYSE:TFX) have earned a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $324.86.
A number of research firms recently issued reports on TFX. Zacks Investment Research downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Raymond James upped their price target on shares of Teleflex from $320.00 to $348.00 and gave the company a “strong-buy” rating in a research note on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $325.00 price target on shares of Teleflex in a research note on Tuesday, March 26th. UBS Group upped their price target on shares of Teleflex to $350.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley upped their price target on shares of Teleflex from $305.00 to $315.00 and gave the company an “overweight” rating in a research note on Tuesday, February 26th.
Teleflex stock traded down $5.51 during mid-day trading on Thursday, reaching $296.00. 287,894 shares of the company’s stock traded hands, compared to its average volume of 280,326. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.99 and a beta of 1.01. The company has a quick ratio of 1.41, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. Teleflex has a 12-month low of $226.02 and a 12-month high of $309.99.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Tuesday, May 14th. Teleflex’s dividend payout ratio is currently 13.74%.
In other news, VP Cameron P. Hicks sold 2,000 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $288.00, for a total value of $576,000.00. Following the sale, the vice president now owns 4,696 shares of the company’s stock, valued at $1,352,448. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John Deren sold 125 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $290.43, for a total transaction of $36,303.75. Following the completion of the sale, the vice president now directly owns 2,539 shares in the company, valued at approximately $737,401.77. The disclosure for this sale can be found here. In the last three months, insiders sold 38,376 shares of company stock worth $11,381,818. Insiders own 2.36% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TFX. LPL Financial LLC purchased a new stake in shares of Teleflex in the third quarter valued at $234,000. Legal & General Group Plc raised its stake in shares of Teleflex by 0.4% in the third quarter. Legal & General Group Plc now owns 212,411 shares of the medical technology company’s stock valued at $56,521,000 after acquiring an additional 933 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Teleflex by 1.8% in the fourth quarter. State of Alaska Department of Revenue now owns 4,986 shares of the medical technology company’s stock valued at $1,287,000 after acquiring an additional 87 shares during the period. First Hawaiian Bank raised its stake in shares of Teleflex by 34.2% in the fourth quarter. First Hawaiian Bank now owns 789 shares of the medical technology company’s stock valued at $204,000 after acquiring an additional 201 shares during the period. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Teleflex by 8.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 1,734 shares of the medical technology company’s stock valued at $448,000 after acquiring an additional 133 shares during the period. 91.17% of the stock is currently owned by institutional investors and hedge funds.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
See Also: Initial Public Offering (IPO)
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