StockNews.com Downgrades Teleflex (NYSE:TFX) to Hold

Teleflex (NYSE:TFX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other research firms have also weighed in on TFX. Stephens boosted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial reaffirmed a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Mizuho lowered their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Price Performance

TFX stock opened at $190.50 on Wednesday. The company has a market capitalization of $8.85 billion, a PE ratio of 37.27, a P/E/G ratio of 1.98 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $227.12 and its two-hundred day moving average is $223.02. Teleflex has a 52-week low of $185.66 and a 52-week high of $257.85.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.38 by $0.11. The business had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.64 earnings per share. Analysts predict that Teleflex will post 13.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Teleflex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Tidal Investments LLC raised its position in shares of Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares during the period. Boston Trust Walden Corp raised its holdings in Teleflex by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after buying an additional 6,076 shares during the period. Russell Investments Group Ltd. lifted its stake in Teleflex by 15.8% during the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after buying an additional 2,570 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Teleflex by 876.7% in the second quarter. Assenagon Asset Management S.A. now owns 21,576 shares of the medical technology company’s stock worth $4,538,000 after buying an additional 19,367 shares during the period. Finally, Simplify Asset Management Inc. purchased a new position in shares of Teleflex in the third quarter worth approximately $4,800,000. 95.62% of the stock is owned by 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.