Teleflex (NYSE:TFX) Stock Rating Lowered by StockNews.com

Teleflex (NYSE:TFX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities analysts also recently commented on the company. Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada dropped their price target on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Finally, Truist Financial restated a “hold” rating and set a $227.00 target price (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Stock Up 1.6 %

Teleflex stock opened at $190.50 on Wednesday. The firm’s 50 day moving average price is $227.12 and its two-hundred day moving average price is $223.02. The firm has a market cap of $8.85 billion, a PE ratio of 37.27, a P/E/G ratio of 1.98 and a beta of 1.18. Teleflex has a twelve month low of $185.66 and a twelve month high of $257.85. 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 released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (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 during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter last year, the firm earned $3.64 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts predict that Teleflex will post 13.98 EPS for the current fiscal year.

Institutional Trading of Teleflex

Several hedge funds have recently added to or reduced their stakes in TFX. Janus Henderson Group PLC lifted its holdings in shares of Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after buying an additional 581,312 shares during the last quarter. State Street Corp raised its stake in Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock valued at $508,757,000 after purchasing an additional 21,291 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Teleflex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company’s stock valued at $278,676,000 after purchasing an additional 5,746 shares during the period. Cooke & Bieler LP grew its position in Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Teleflex by 12.0% in the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after purchasing an additional 48,832 shares during the last quarter. 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.