Teleflex (NYSE:TFX) Rating Lowered to “Hold” at StockNews.com

Teleflex (NYSE:TFX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada cut their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Truist Financial reiterated a “hold” rating and set a $227.00 price target (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Mizuho decreased their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, Stephens lifted their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Stock Performance

NYSE TFX opened at $193.07 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 1-year low of $189.93 and a 1-year high of $257.85. The business’s 50-day simple moving average is $229.33 and its 200-day simple moving average is $223.34. The firm has a market capitalization of $8.97 billion, a P/E ratio of 38.38, a P/E/G ratio of 1.97 and a beta of 1.18.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.64 EPS. Equities analysts predict that Teleflex will post 13.98 EPS for the current year.

Institutional Trading of Teleflex

A number of institutional investors have recently made changes to their positions in TFX. Janus Henderson Group PLC boosted its holdings in shares of Teleflex by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after buying an additional 581,312 shares during the last quarter. State Street Corp increased its position in Teleflex by 1.0% during the third quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after buying an additional 21,291 shares during the last quarter. Geode Capital Management LLC raised its stake in Teleflex by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock valued at $278,676,000 after buying an additional 5,746 shares during the period. Cooke & Bieler LP lifted its position in shares of Teleflex by 23.3% in the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after buying an additional 172,335 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after acquiring an additional 48,832 shares during the last quarter. 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.