Royal Bank of Canada Has Lowered Expectations for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price objective decreased by analysts at Royal Bank of Canada from $150.00 to $145.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the medical technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 14.81% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Wells Fargo & Company decreased their price target on Teleflex from $146.00 to $137.00 and set an “equal weight” rating for the company in a research note on Friday. Bank of America cut shares of Teleflex from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Piper Sandler reaffirmed a “neutral” rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Finally, Morgan Stanley dropped their price target on shares of Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.25.

Teleflex Stock Performance

Teleflex stock opened at $126.30 on Friday. The firm’s fifty day moving average price is $135.82 and its 200-day moving average price is $170.33. Teleflex has a fifty-two week low of $124.66 and a fifty-two week high of $249.91. 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 stock has a market cap of $5.86 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.03. The firm had revenue of $700.67 million during the quarter, compared to the consensus estimate of $699.37 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.21 earnings per share. On average, equities research analysts expect that Teleflex will post 13.98 earnings per share for the current fiscal year.

Institutional Trading of Teleflex

Large investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock valued at $27,000 after buying an additional 100 shares during the period. Headlands Technologies LLC purchased a new position in Teleflex during the fourth quarter valued at approximately $29,000. Whipplewood Advisors LLC lifted its holdings in Teleflex by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 231 shares during the period. Allworth Financial LP boosted its position in Teleflex by 504.8% in the 1st quarter. Allworth Financial LP now owns 254 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 212 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Teleflex by 62.3% during the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock worth $48,000 after purchasing an additional 104 shares during the period. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.