Teleflex (NYSE:TFX) Price Target Cut to $219.00 by Analysts at Truist Financial

Teleflex (NYSE:TFX) had its price objective dropped by analysts at Truist Financial from $240.00 to $219.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target would indicate a potential upside of 7.88% from the stock’s previous close.

Several other research firms also recently issued reports on TFX. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday. Finally, Royal Bank of Canada cut their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

Teleflex Price Performance

Teleflex stock opened at $203.01 on Friday. Teleflex has a 1 year low of $177.63 and a 1 year high of $262.97. The firm has a 50 day moving average price of $217.27 and a 200 day moving average price of $226.33. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.90 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 2.51.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The company had revenue of $737.80 million during the quarter, compared to the consensus estimate of $726.85 million. During the same period in the previous year, the firm earned $3.09 earnings per share. Teleflex’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts predict that Teleflex will post 13.73 earnings per share for the current year.

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the sale, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.43% of the stock is owned by insiders.

Institutional Trading of Teleflex

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Teleflex by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,454,016 shares of the medical technology company’s stock valued at $1,359,904,000 after purchasing an additional 57,132 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Teleflex by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock worth $622,494,000 after acquiring an additional 52,533 shares during the last quarter. Cooke & Bieler LP grew its position in shares of Teleflex by 5.7% during the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock worth $183,256,000 after acquiring an additional 39,308 shares during the last quarter. Invesco Ltd. grew its position in shares of Teleflex by 23.3% during the third quarter. Invesco Ltd. now owns 621,445 shares of the medical technology company’s stock worth $122,058,000 after acquiring an additional 117,401 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Teleflex by 2.5% during the third quarter. TD Asset Management Inc now owns 481,840 shares of the medical technology company’s stock worth $94,638,000 after acquiring an additional 11,796 shares during the last quarter. 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.