Teleflex (NYSE:TFX) PT Raised to $255.00

Teleflex (NYSE:TFX) had its target price upped by analysts at Truist Financial from $247.00 to $255.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price objective suggests a potential upside of 8.34% from the stock’s previous close.

A number of other research firms have also weighed in on TFX. Royal Bank of Canada boosted their target price on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens boosted their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.86.

Teleflex Trading Down 0.8 %

Shares of TFX stock opened at $235.38 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $240.35 and a two-hundred day moving average price of $222.68. Teleflex has a 12-month low of $177.63 and a 12-month high of $257.85. The firm has a market cap of $11.09 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same quarter in the previous year, the company posted $3.41 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Teleflex will post 13.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.

Institutional Trading of Teleflex

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Teleflex by 7.8% in the 3rd quarter. Creative Planning now owns 5,671 shares of the medical technology company’s stock worth $1,403,000 after purchasing an additional 412 shares in the last quarter. Procyon Advisors LLC boosted its position in shares of Teleflex by 27.5% in the 3rd quarter. Procyon Advisors LLC now owns 2,288 shares of the medical technology company’s stock worth $566,000 after purchasing an additional 494 shares in the last quarter. Selway Asset Management bought a new position in Teleflex in the 3rd quarter valued at approximately $4,792,000. Exchange Traded Concepts LLC purchased a new stake in Teleflex during the 3rd quarter valued at $61,000. Finally, Covea Finance purchased a new stake in Teleflex during the 3rd quarter valued at $1,533,000. 95.62% of the stock is owned by institutional investors.

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.