Teleflex (NYSE:TFX) Cut to Hold at StockNews.com

Teleflex (NYSE:TFX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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

Teleflex Price Performance

Shares of NYSE TFX opened at $193.07 on Wednesday. The stock has a market cap of $8.97 billion, a P/E ratio of 38.38, a P/E/G ratio of 1.97 and a beta of 1.18. Teleflex has a twelve month low of $189.93 and a twelve month high of $257.85. The stock has a 50 day moving average of $229.33 and a two-hundred day moving average of $223.34. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

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

Institutional Investors Weigh In On Teleflex

Several institutional investors have recently modified their holdings of TFX. Janus Henderson Group PLC raised its holdings in Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares during the last quarter. State Street Corp grew its stake in Teleflex by 1.0% in the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock valued at $508,757,000 after acquiring an additional 21,291 shares during the last quarter. Geode Capital Management LLC raised its position in Teleflex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock worth $278,676,000 after acquiring an additional 5,746 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after purchasing an additional 172,335 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Teleflex by 12.0% in the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after purchasing an additional 48,832 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Company Profile

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.