Teleflex (NYSE:TFX) Given New $200.00 Price Target at Truist Financial

Teleflex (NYSE:TFX) had its price target lowered by investment analysts at Truist Financial from $227.00 to $200.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target would indicate a potential upside of 13.07% from the company’s current price.

Several other research analysts also recently commented on the stock. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Royal Bank of Canada lowered their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Mizuho reduced their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Monday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $255.14.

Teleflex Price Performance

Teleflex stock traded down $1.40 during mid-day trading on Wednesday, reaching $176.88. 24,743 shares of the company were exchanged, compared to its average volume of 382,910. The company has a fifty day simple moving average of $206.03 and a 200-day simple moving average of $220.31. The firm has a market cap of $8.21 billion, a PE ratio of 35.17, a PEG ratio of 1.84 and a beta of 1.16. 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 12 month low of $176.65 and a 12 month high of $256.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 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 business had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the previous year, the firm earned $3.64 earnings per share. Teleflex’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts expect 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 have recently modified their holdings of the company. American Trust bought a new stake in Teleflex during the third quarter worth $212,000. Franklin Resources Inc. grew its stake in shares of Teleflex by 64.3% in the 3rd quarter. Franklin Resources Inc. now owns 9,683 shares of the medical technology company’s stock worth $2,298,000 after acquiring an additional 3,790 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Teleflex by 29.7% in the third quarter. Tidal Investments LLC now owns 8,014 shares of the medical technology company’s stock valued at $1,982,000 after purchasing an additional 1,837 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Teleflex by 6.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 27,759 shares of the medical technology company’s stock valued at $6,865,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in shares of Teleflex by 9.8% during the third quarter. Sanctuary Advisors LLC now owns 4,877 shares of the medical technology company’s stock valued at $1,206,000 after purchasing an additional 437 shares in the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.