Truist Financial Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price objective dropped by Truist Financial from $227.00 to $200.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price objective would indicate a potential upside of 14.42% from the company’s previous close.

A number of other brokerages have also weighed in on TFX. Royal Bank of Canada dropped their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Monday. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Mizuho dropped their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.14.

Teleflex Trading Up 1.2 %

Shares of TFX stock opened at $174.79 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The stock has a fifty day simple moving average of $203.60 and a two-hundred day simple moving average of $219.66. The firm has a market capitalization of $8.12 billion, a PE ratio of 34.75, a PEG ratio of 1.84 and a beta of 1.16. Teleflex has a 52-week low of $171.69 and a 52-week high of $256.85.

Teleflex (NYSE:TFX) last released its 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 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 business posted $3.64 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Teleflex will post 13.98 EPS for the current fiscal year.

Institutional Trading of Teleflex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after acquiring an additional 93 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Teleflex during the 2nd quarter valued at about $25,550,000. Bank of New York Mellon Corp raised its position in Teleflex by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after purchasing an additional 26,325 shares during the period. Verdence Capital Advisors LLC bought a new stake in Teleflex in the second quarter worth about $321,000. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Teleflex by 18.5% during the second quarter. Conestoga Capital Advisors LLC now owns 73,829 shares of the medical technology company’s stock valued at $15,528,000 after buying an additional 11,517 shares during the period. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.