Teleflex (NYSE:TFX) Price Target Cut to $245.00 by Analysts at Royal Bank of Canada

Teleflex (NYSE:TFX) had its target price cut by research analysts at Royal Bank of Canada from $275.00 to $245.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 16.00% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TFX. Mizuho dropped their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday. Truist Financial lifted their price objective on Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Teleflex has an average rating of “Moderate Buy” and a consensus target price of $262.75.

Teleflex Stock Up 5.0 %

NYSE TFX opened at $211.21 on Friday. The stock’s 50 day simple moving average is $239.55 and its 200 day simple moving average is $224.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.44. Teleflex has a one year low of $190.49 and a one year high of $257.85. The firm has a market cap of $9.95 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18.

Teleflex (NYSE:TFX) last issued 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. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same quarter in the prior year, the company earned $3.64 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that Teleflex will post 13.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.

Institutional Trading of Teleflex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Teleflex in the first quarter valued at $2,467,000. ProShare Advisors LLC boosted its stake in shares of Teleflex by 34.1% during the 1st quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock worth $2,759,000 after buying an additional 3,105 shares during the last quarter. Tidal Investments LLC increased its position in shares of Teleflex by 214.7% in the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock valued at $1,503,000 after acquiring an additional 4,533 shares during the last quarter. Boston Trust Walden Corp boosted its position in Teleflex by 2.7% during the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock valued at $49,199,000 after purchasing an additional 6,076 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock valued at $4,245,000 after purchasing an additional 2,570 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.