Teleflex (NYSE:TFX) Upgraded to “Buy” at StockNews.com

Teleflex (NYSE:TFX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

TFX has been the topic of a number of other research reports. Truist Financial reaffirmed a “hold” rating and issued a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Royal Bank of Canada dropped their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Stephens lifted their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Mizuho dropped their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Trading Down 0.8 %

NYSE TFX opened at $193.98 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 2.00 and a beta of 1.18. The firm has a 50 day simple moving average of $233.46 and a 200-day simple moving average of $223.73. Teleflex has a one year low of $193.49 and a one year 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, beating the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter last year, the company posted $3.64 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Teleflex will post 13.98 EPS for the current fiscal year.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares in the company, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TFX. Glenmede Trust Co. NA lifted its stake in shares of Teleflex by 5.9% in the third quarter. Glenmede Trust Co. NA now owns 4,481 shares of the medical technology company’s stock valued at $1,108,000 after purchasing an additional 249 shares during the period. Townsquare Capital LLC purchased a new position in Teleflex during the third quarter worth $200,000. BNP Paribas Financial Markets raised its stake in Teleflex by 14.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 64,498 shares of the medical technology company’s stock valued at $15,952,000 after purchasing an additional 7,907 shares during the last quarter. FMR LLC raised its position in shares of Teleflex by 70.1% in the third quarter. FMR LLC now owns 269,490 shares of the medical technology company’s stock valued at $66,650,000 after buying an additional 111,086 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Teleflex by 10.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 11,295 shares of the medical technology company’s stock valued at $2,793,000 after acquiring an additional 1,106 shares during the last quarter. Institutional investors and hedge funds 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.