Teleflex (NYSE:TFX) Stock Rating Upgraded by StockNews.com

Teleflex (NYSE:TFX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently weighed in on TFX. Mizuho decreased their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Stephens raised their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Finally, Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.25.

Teleflex Stock Performance

NYSE TFX opened at $193.98 on Tuesday. The firm has a market capitalization of $9.01 billion, a P/E ratio of 38.56, a PEG ratio of 2.00 and a beta of 1.18. The stock has a 50-day simple moving average of $233.46 and a two-hundred day simple moving average of $223.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. Teleflex has a fifty-two week low of $193.49 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. The company had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. Teleflex’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.64 earnings per share. On average, equities analysts forecast that Teleflex will post 13.98 earnings per share for the current year.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On Teleflex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Texas Permanent School Fund Corp raised its stake in Teleflex by 1.6% during the first quarter. Texas Permanent School Fund Corp now owns 9,714 shares of the medical technology company’s stock worth $2,197,000 after purchasing an additional 152 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Teleflex by 10.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,648 shares of the medical technology company’s stock valued at $373,000 after acquiring an additional 159 shares during the last quarter. Quantbot Technologies LP purchased a new position in Teleflex in the first quarter worth approximately $537,000. SG Americas Securities LLC grew its position in Teleflex by 415.3% in the first quarter. SG Americas Securities LLC now owns 6,920 shares of the medical technology company’s stock worth $1,565,000 after acquiring an additional 5,577 shares during the period. Finally, Forsta AP Fonden increased its stake in Teleflex by 15.7% during the first quarter. Forsta AP Fonden now owns 10,300 shares of the medical technology company’s stock worth $2,330,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds 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.