Teleflex (NYSE:TFX) Earns “Hold” Rating from Truist Financial

Teleflex (NYSE:TFX)‘s stock had its “hold” rating restated by research analysts at Truist Financial in a research note issued to investors on Monday, Benzinga reports. They currently have a $227.00 target price on the medical technology company’s stock, down from their previous target price of $255.00. Truist Financial’s price target would suggest a potential upside of 11.55% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Mizuho lowered their price objective on shares of 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 raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Price Performance

NYSE:TFX opened at $203.50 on Monday. Teleflex has a 52 week low of $195.51 and a 52 week high of $257.85. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.92 and a beta of 1.18. The company has a 50-day moving average of $238.09 and a 200-day moving average of $224.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (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 firm had revenue of $764.40 million during the quarter, compared to the consensus estimate of $768.68 million. During the same period last year, the firm posted $3.64 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that Teleflex will post 13.97 earnings per share for the current fiscal year.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 5,496 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TFX. Cromwell Holdings LLC lifted its stake in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after buying an additional 49 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Teleflex in the third quarter valued at approximately $40,000. GAMMA Investing LLC lifted its stake in Teleflex by 131.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after buying an additional 97 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Teleflex in the second quarter valued at approximately $42,000. Finally, Versant Capital Management Inc lifted its stake in Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after buying an additional 207 shares in 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.