Teleflex (NYSE:TFX) Price Target Cut to $191.00 by Analysts at Morgan Stanley

Teleflex (NYSE:TFX) had its target price dropped by stock analysts at Morgan Stanley from $275.00 to $191.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 39.97% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and cut their price target for the company from $235.00 to $140.00 in a research report on Tuesday. Citizens Jmp cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Piper Sandler restated a “neutral” rating and issued a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a research report on Friday, February 28th. Royal Bank of Canada cut Teleflex from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $220.00 to $155.00 in a research note on Friday, February 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Teleflex currently has an average rating of “Hold” and an average target price of $182.63.

Teleflex Price Performance

TFX opened at $136.46 on Wednesday. The company has a fifty day moving average price of $173.65 and a two-hundred day moving average price of $203.17. The firm has a market capitalization of $6.34 billion, a PE ratio of 26.02, a P/E/G ratio of 1.73 and a beta of 1.16. Teleflex has a 52 week low of $128.55 and a 52 week high of $249.90. 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, February 27th. The medical technology company reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. As a group, analysts anticipate that Teleflex will post 13.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Apollon Wealth Management LLC boosted its stake in shares of Teleflex by 3.7% in the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company’s stock valued at $377,000 after buying an additional 55 shares during the period. SRS Capital Advisors Inc. grew its stake in Teleflex by 0.3% during the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock worth $4,844,000 after buying an additional 60 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Teleflex by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company’s stock valued at $3,792,000 after buying an additional 65 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Teleflex by 4.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company’s stock valued at $375,000 after buying an additional 66 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Teleflex by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company’s stock worth $986,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds 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.