Teleflex (NYSE:TFX) Price Target Cut to $140.00 by Analysts at Truist Financial

Teleflex (NYSE:TFX) had its price objective dropped by research analysts at Truist Financial from $149.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target indicates a potential upside of 8.93% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company cut their price target on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Piper Sandler reissued a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Royal Bank of Canada cut Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $220.00 to $155.00 in a report on Friday, February 28th. Bank of America cut Teleflex from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Finally, Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Teleflex has an average rating of “Hold” and an average target price of $181.50.

Teleflex Stock Down 0.4 %

Shares of TFX stock opened at $128.53 on Friday. Teleflex has a twelve month low of $124.66 and a twelve month high of $249.91. The stock’s 50 day simple moving average is $148.90 and its 200 day simple moving average is $182.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.73 and a beta of 1.19.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. The firm had revenue of $795.40 million during 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%. As a group, research analysts predict that Teleflex will post 13.98 EPS for the current year.

Institutional Investors Weigh In On Teleflex

A number of institutional investors have recently modified their holdings of TFX. Norges Bank bought a new stake in shares of Teleflex during the 4th quarter valued at $100,328,000. Invesco Ltd. raised its position in Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock valued at $190,188,000 after purchasing an additional 347,003 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Teleflex during the fourth quarter valued at $46,696,000. T. Rowe Price Investment Management Inc. lifted its holdings in Teleflex by 4.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock worth $1,098,693,000 after buying an additional 261,279 shares during the period. Finally, Magnetar Financial LLC boosted its holdings in Teleflex by 105.2% in the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock valued at $74,990,000 after acquiring an additional 215,961 shares during the last quarter. 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.