Truist Financial Has Lowered Expectations for Teleflex (NYSE:TFX) Stock Price

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

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Wednesday, March 12th. Morgan Stanley cut their price target on Teleflex from $275.00 to $191.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on Teleflex from $214.00 to $146.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Bank of America downgraded Teleflex from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $235.00 to $140.00 in a report on Tuesday, March 4th. Finally, Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $181.50.

Teleflex Price Performance

Shares of NYSE TFX opened at $129.81 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. Teleflex has a 1-year low of $124.66 and a 1-year high of $249.91. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.73 and a beta of 1.19. The business has a 50-day moving average of $148.00 and a 200-day moving average of $181.53.

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

Institutional Trading of Teleflex

Institutional investors and hedge funds have recently modified their holdings of the business. Procyon Advisors LLC grew its position in shares of Teleflex by 59.0% during the 1st quarter. Procyon Advisors LLC now owns 3,629 shares of the medical technology company’s stock valued at $501,000 after buying an additional 1,346 shares during the last quarter. Bridge Creek Capital Management LLC boosted its stake in Teleflex by 8.2% in the first quarter. Bridge Creek Capital Management LLC now owns 18,095 shares of the medical technology company’s stock valued at $2,501,000 after acquiring an additional 1,365 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of Teleflex by 7,700.0% during the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 231 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Teleflex during the 1st quarter worth approximately $202,000. Finally, Rhumbline Advisers lifted its holdings in shares of Teleflex by 16.3% in the 1st quarter. Rhumbline Advisers now owns 116,322 shares of the medical technology company’s stock worth $16,074,000 after purchasing an additional 16,308 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

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.