Teleflex (NYSE:TFX) Price Target Lowered to $140.00 at Truist Financial

Teleflex (NYSE:TFX) had its price target decreased by research analysts at Truist Financial from $149.00 to $140.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price would suggest a potential upside of 7.85% from the stock’s previous close.

A number of other analysts have also weighed in on TFX. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 price target (down from $255.00) on shares of Teleflex in a research note on Friday, February 28th. Morgan Stanley decreased their price target on Teleflex from $275.00 to $191.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Royal Bank of Canada lowered Teleflex from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $220.00 to $155.00 in a report on Friday, February 28th. Finally, Bank of America lowered Teleflex from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $181.50.

Teleflex Stock Performance

Shares of TFX stock opened at $129.81 on Friday. The business has a 50 day simple moving average of $148.00 and a 200 day simple moving average of $181.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.19. Teleflex has a 12-month low of $124.66 and a 12-month high of $249.91.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. The company had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. On average, equities research analysts anticipate that Teleflex will post 13.98 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of Teleflex by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company’s stock valued at $986,000 after acquiring an additional 66 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Teleflex by 12.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 14,015 shares of the medical technology company’s stock valued at $3,466,000 after purchasing an additional 1,533 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Teleflex by 43.0% in the third quarter. Public Employees Retirement System of Ohio now owns 25,677 shares of the medical technology company’s stock valued at $6,350,000 after purchasing an additional 7,721 shares in the last quarter. Barclays PLC boosted its position in shares of Teleflex by 1.6% in the third quarter. Barclays PLC now owns 89,907 shares of the medical technology company’s stock worth $22,233,000 after buying an additional 1,426 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Teleflex by 0.5% during 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 in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

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.