Wells Fargo & Company Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its target price decreased by research analysts at Wells Fargo & Company from $214.00 to $146.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.12% from the stock’s previous close.

TFX has been the subject of several other research reports. Citizens Jmp lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday. Piper Sandler reissued a “neutral” rating and issued a $140.00 price target (down previously from $255.00) on shares of Teleflex in a report on Friday. Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Royal Bank of Canada lowered shares of Teleflex from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $220.00 to $155.00 in a report on Friday. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $196.83.

Teleflex Stock Performance

TFX opened at $132.58 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm has a fifty day moving average price of $175.44 and a 200 day moving average price of $204.85. Teleflex has a 1 year low of $130.60 and a 1 year high of $249.90. The stock has a market cap of $6.16 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.73 and a beta of 1.16.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.03. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm had revenue of $795.40 million during the quarter, compared to analysts’ expectations of $813.24 million. Equities research analysts anticipate that Teleflex will post 13.98 earnings per share for the current year.

Institutional Investors Weigh In On Teleflex

A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Teleflex during the fourth quarter worth about $29,000. Avior Wealth Management LLC increased its position in Teleflex by 190.6% during the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Teleflex during the third quarter worth about $40,000. True Wealth Design LLC increased its position in Teleflex by 16,600.0% during the third quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Teleflex during the third quarter worth about $54,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.