Wells Fargo & Company Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price target reduced by analysts at Wells Fargo & Company from $146.00 to $137.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.47% from the company’s current price.

Other analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Wednesday, March 12th. Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. Citizens Jmp lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Piper Sandler restated a “neutral” rating and set a $140.00 target price (down from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.25.

Teleflex Price Performance

TFX opened at $126.30 on Friday. The firm has a market capitalization of $5.86 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. Teleflex has a 1 year low of $124.66 and a 1 year high of $249.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The business’s 50-day moving average is $135.82 and its two-hundred day moving average is $170.33.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.88 by $0.03. The company had revenue of $700.67 million for the quarter, compared to analyst estimates of $699.37 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.21 earnings per share. Research analysts anticipate that Teleflex will post 13.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Teleflex

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