Teleflex (NYSE:TFX) Price Target Cut to $200.00 by Analysts at Truist Financial

Teleflex (NYSE:TFX) had its price target cut by analysts at Truist Financial from $227.00 to $200.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price would suggest a potential upside of 13.07% from the company’s previous close.

Several other analysts have also issued reports on TFX. Mizuho lowered their price target on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Monday. Finally, Royal Bank of Canada decreased their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and an average price target of $255.14.

Teleflex Stock Performance

NYSE:TFX traded down $1.40 during trading on Wednesday, reaching $176.88. The company’s stock had a trading volume of 24,743 shares, compared to its average volume of 382,910. Teleflex has a 12 month low of $176.65 and a 12 month high of $256.85. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The firm has a 50 day moving average of $206.03 and a 200-day moving average of $220.31. 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 issued its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter in the prior year, the firm earned $3.64 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Teleflex will post 13.98 EPS for the current fiscal year.

Institutional Trading of Teleflex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplify Asset Management Inc. bought a new position in Teleflex in the 3rd quarter worth $4,800,000. Dimensional Fund Advisors LP boosted its stake in Teleflex by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 398,175 shares of the medical technology company’s stock worth $83,741,000 after purchasing an additional 15,992 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Teleflex by 19.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock worth $102,000 after acquiring an additional 80 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Teleflex by 41.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,301 shares of the medical technology company’s stock worth $6,010,000 after buying an additional 7,132 shares in the last quarter. Finally, LGT Capital Partners LTD. lifted its stake in Teleflex by 4.2% during the 3rd quarter. LGT Capital Partners LTD. now owns 231,685 shares of the medical technology company’s stock valued at $57,300,000 after acquiring an additional 9,411 shares during the period. Hedge funds and other institutional investors 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.