Royal Bank of Canada Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price objective reduced by equities research analysts at Royal Bank of Canada from $275.00 to $245.00 in a report issued on Friday, Benzinga reports. The brokerage 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 16.00% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Truist Financial raised their price objective on shares of Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday. Stephens upped their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Mizuho cut their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $262.75.

Teleflex Trading Up 5.0 %

Shares of NYSE:TFX opened at $211.21 on Friday. The firm has a fifty day moving average of $239.55 and a two-hundred day moving average of $224.02. The company has a quick ratio of 1.44, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex has a 12-month low of $190.49 and a 12-month high of $257.85. The firm has a market capitalization of $9.95 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter last year, the firm earned $3.64 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts expect that Teleflex will post 13.97 EPS for the current fiscal year.

Insider Activity at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the company’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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Trading of Teleflex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cromwell Holdings LLC lifted its stake in shares of Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after buying an additional 49 shares during the period. GAMMA Investing LLC raised its holdings in Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after acquiring an additional 97 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Teleflex in the 2nd quarter worth approximately $42,000. Versant Capital Management Inc grew its holdings in shares of Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 93 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.