Teleflex (NYSE:TFX) had its price objective increased by Barclays from $309.00 to $356.00 in a research report released on Monday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the medical technology company’s stock.
Other equities research analysts have also recently issued reports about the stock. JMP Securities boosted their price target on shares of Teleflex from $325.00 to $395.00 and gave the stock a market outperform rating in a research report on Monday. Needham & Company LLC reiterated a buy rating and issued a $403.00 price target (up from $325.00) on shares of Teleflex in a research report on Friday. Morgan Stanley boosted their price target on shares of Teleflex from $345.00 to $392.00 and gave the stock an overweight rating in a research report on Friday. Raymond James boosted their price target on shares of Teleflex from $350.00 to $420.00 and gave the stock a strong-buy rating in a research report on Friday. Finally, Wells Fargo & Co assumed coverage on shares of Teleflex in a research report on Tuesday, June 11th. They issued an outperform rating and a $345.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $367.67.
Shares of NYSE TFX opened at $350.60 on Monday. Teleflex has a fifty-two week low of $226.02 and a fifty-two week high of $366.79. The company’s 50-day moving average is $337.90. The company has a current ratio of 2.52, a quick ratio of 1.59 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $16.68 billion, a PE ratio of 35.41, a P/E/G ratio of 2.40 and a beta of 1.02.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.34 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.39%. Teleflex’s dividend payout ratio is currently 13.74%.
In related news, Director Benson Smith sold 8,500 shares of Teleflex stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $294.52, for a total value of $2,503,420.00. Following the transaction, the director now owns 85,300 shares of the company’s stock, valued at approximately $25,122,556. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cameron P. Hicks sold 1,500 shares of Teleflex stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $298.14, for a total value of $447,210.00. Following the completion of the transaction, the vice president now directly owns 6,876 shares in the company, valued at approximately $2,050,010.64. The disclosure for this sale can be found here. Insiders sold a total of 54,949 shares of company stock worth $17,239,052 in the last three months. 2.36% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Reilly Financial Advisors LLC purchased a new position in Teleflex during the 2nd quarter valued at about $25,000. Quantamental Technologies LLC purchased a new position in Teleflex during the 1st quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new position in Teleflex during the 1st quarter valued at about $31,000. Quadrant Capital Group LLC grew its stake in Teleflex by 82.8% during the 1st quarter. Quadrant Capital Group LLC now owns 117 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 53 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in Teleflex during the 1st quarter valued at about $37,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
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.
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