Teleflex (NYSE:TFX) Lowered to Underperform Rating by Bank of America

Teleflex (NYSE:TFX) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $140.00 price objective on the medical technology company’s stock, down from their prior price objective of $235.00. Bank of America‘s price target would indicate a potential upside of 3.47% from the stock’s current price.

Several other equities research analysts have also issued reports on TFX. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Friday. Royal Bank of Canada downgraded shares of Teleflex from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $220.00 to $155.00 in a research note on Friday. Finally, Truist Financial cut their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Teleflex has an average rating of “Hold” and a consensus price target of $181.43.

Teleflex Stock Up 1.9 %

Shares of NYSE TFX opened at $135.31 on Tuesday. The business has a 50-day moving average of $174.58 and a 200-day moving average of $203.93. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.73 and a beta of 1.16. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. Teleflex has a 12 month low of $128.55 and a 12 month high of $249.90.

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

Institutional Investors Weigh In On Teleflex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TFX. Norges Bank purchased a new position in shares of Teleflex in the fourth quarter valued at about $100,328,000. Invesco Ltd. grew its stake in shares of Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock worth $190,188,000 after purchasing an additional 347,003 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Teleflex during the 4th quarter valued at about $46,696,000. T. Rowe Price Investment Management Inc. raised its position in Teleflex by 4.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock valued at $1,098,693,000 after purchasing an additional 261,279 shares during the last quarter. Finally, Magnetar Financial LLC raised its position in Teleflex by 105.2% during the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock valued at $74,990,000 after purchasing an additional 215,961 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

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.