Morgan Stanley Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price target cut by equities researchers at Morgan Stanley from $275.00 to $191.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Morgan Stanley’s target price would indicate a potential upside of 40.11% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial reduced their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research report on Monday. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, Royal Bank of Canada downgraded Teleflex from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $220.00 to $155.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.63.

Teleflex Trading Up 1.6 %

NYSE:TFX opened at $136.32 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex has a one year low of $128.55 and a one year high of $249.90. The company has a market cap of $6.33 billion, a PE ratio of 27.10, a PEG ratio of 1.73 and a beta of 1.16. The firm has a 50-day moving average of $171.92 and a 200-day moving average of $202.22.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. As a group, equities research analysts expect that Teleflex will post 13.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Teleflex

Several institutional investors have recently bought and sold shares of TFX. Siemens Fonds Invest GmbH bought a new stake in shares of Teleflex in the fourth quarter valued at $1,336,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Teleflex in the 4th quarter worth about $6,528,000. Jefferies Financial Group Inc. raised its stake in Teleflex by 9.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 4,837 shares of the medical technology company’s stock valued at $861,000 after acquiring an additional 412 shares during the period. Mackenzie Financial Corp lifted its holdings in Teleflex by 59.2% during the fourth quarter. Mackenzie Financial Corp now owns 36,281 shares of the medical technology company’s stock valued at $6,457,000 after purchasing an additional 13,488 shares during the last quarter. Finally, Forum Financial Management LP boosted its position in Teleflex by 48.6% during the fourth quarter. Forum Financial Management LP now owns 1,293 shares of the medical technology company’s stock worth $230,000 after purchasing an additional 423 shares during the period. Hedge funds and other 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.