Teleflex (NYSE:TFX) Raised to “Buy” at StockNews.com

Teleflex (NYSE:TFX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

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

Teleflex Price Performance

TFX stock opened at $192.00 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex has a 12 month low of $185.66 and a 12 month high of $257.85. The firm has a market cap of $8.92 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.99 and a beta of 1.18. The company’s 50-day moving average price is $221.96 and its two-hundred day moving average price is $222.66.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after purchasing an additional 147,147 shares during the period. State Street Corp lifted its position in shares of Teleflex by 1.0% in the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after purchasing an additional 21,291 shares during the period. Geode Capital Management LLC lifted its position in shares of Teleflex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock worth $278,676,000 after purchasing an additional 5,746 shares during the period. Cooke & Bieler LP lifted its position in shares of Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Teleflex by 12.0% in the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after purchasing an additional 48,832 shares during the period. Institutional investors and hedge funds 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.