Teleflex (NYSE:TFX) Price Target Raised to $275.00

Teleflex (NYSE:TFX) had its target price raised by research analysts at Royal Bank of Canada from $260.00 to $275.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 16.50% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Stephens upped their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $205.00 to $245.00 in a report on Monday, July 1st. Three investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $267.71.

Teleflex Trading Up 1.3 %

Shares of TFX traded up $3.10 on Tuesday, reaching $236.06. 212,336 shares of the company’s stock were exchanged, compared to its average volume of 368,930. The business has a 50 day moving average price of $239.51 and a two-hundred day moving average price of $222.06. Teleflex has a 12 month low of $177.63 and a 12 month high of $257.85. The stock has a market capitalization of $11.12 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The firm had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $3.41 earnings per share. Research analysts anticipate that Teleflex will post 13.97 earnings per share for the current year.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently bought and sold shares of TFX. Riverview Trust Co bought a new position in shares of Teleflex during the 1st quarter worth approximately $31,000. Pineridge Advisors LLC bought a new position in Teleflex during the fourth quarter worth $35,000. Canada Pension Plan Investment Board bought a new position in shares of Teleflex in the second quarter valued at about $42,000. GAMMA Investing LLC lifted its stake in shares of Teleflex by 131.1% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 207 shares during 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.