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

Teleflex (NYSE:TFX) had its price target cut by research analysts at Truist Financial from $227.00 to $200.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price indicates a potential upside of 14.42% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Monday. Mizuho decreased their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.14.

Teleflex Price Performance

TFX opened at $174.79 on Wednesday. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.84 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex has a 12-month low of $171.69 and a 12-month high of $256.85. The business’s fifty day simple moving average is $203.60 and its 200-day simple moving average is $219.66.

Teleflex (NYSE:TFX) last issued its 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. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same period in the prior year, the business earned $3.64 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Teleflex will post 13.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teleflex

Several institutional investors have recently added to or reduced their stakes in TFX. Cromwell Holdings LLC raised its position in shares of Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 49 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after buying an additional 101 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Teleflex during the third quarter worth $40,000. True Wealth Design LLC lifted its stake in shares of 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 buying an additional 166 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Teleflex in the 2nd quarter valued at $42,000. 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.