Teleflex (NYSE:TFX) Upgraded to “Overweight” by Piper Sandler

Teleflex (NYSE:TFX) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, MarketBeat reports. The brokerage presently has a $245.00 price target on the medical technology company’s stock, up from their previous price target of $205.00. Piper Sandler’s target price points to a potential upside of 16.48% from the stock’s current price.

A number of other brokerages have also recently commented on TFX. Truist Financial lowered their price target on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $260.14.

Teleflex Trading Up 1.5 %

TFX opened at $210.33 on Monday. The stock’s fifty day moving average is $207.85 and its two-hundred day moving average is $226.03. The company has a market capitalization of $9.91 billion, a P/E ratio of 33.76, a PEG ratio of 2.04 and a beta of 1.13. Teleflex has a 52 week low of $177.63 and a 52 week high of $262.97. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The firm had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. During the same period in the previous year, the business earned $3.09 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that Teleflex will post 13.75 earnings per share for the current year.

Institutional Investors Weigh In On Teleflex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in shares of Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. Norges Bank acquired a new position in shares of Teleflex during the 4th quarter valued at $118,665,000. LGT Capital Partners LTD. lifted its holdings in shares of Teleflex by 285.4% during the 4th quarter. LGT Capital Partners LTD. now owns 257,864 shares of the medical technology company’s stock valued at $64,296,000 after acquiring an additional 190,950 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Teleflex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after acquiring an additional 96,711 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Teleflex by 6,428.1% during the 1st quarter. Vident Advisory LLC now owns 61,952 shares of the medical technology company’s stock valued at $14,012,000 after acquiring an additional 61,003 shares in the last quarter. 95.62% of the stock is currently 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.