Teleflex (NYSE:TFX) Cut to “Underperform” at Bank of America

Bank of America downgraded shares of Teleflex (NYSE:TFX) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have $140.00 target price on the medical technology company’s stock, down from their prior target price of $235.00.

A number of other equities analysts have also weighed in on TFX. Wells Fargo & Company reduced their target price on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada cut shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $220.00 to $155.00 in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Teleflex has an average rating of “Hold” and an average price target of $182.63.

Teleflex Trading Up 1.6 %

NYSE TFX opened at $136.32 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The stock’s 50-day moving average is $171.92 and its 200-day moving average is $202.22. Teleflex has a one year low of $128.55 and a one year high of $249.90. The firm has a market cap of $6.33 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.73 and a beta of 1.16.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping the consensus estimate of $3.86 by $0.03. The firm had revenue of $795.40 million for the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. Sell-side analysts anticipate that Teleflex will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, March 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. Teleflex’s payout ratio is 95.77%.

Hedge Funds Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC lifted its position in shares of Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after buying an additional 101 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Teleflex in the 3rd quarter valued at $40,000. Headlands Technologies LLC acquired a new stake in Teleflex during the 4th quarter valued at $29,000. True Wealth Design LLC lifted its holdings in Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock valued at $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Teleflex during the third quarter worth $54,000. Institutional investors own 95.62% of the company’s stock.

About Teleflex

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.