Truist Financial Boosts Teleflex (NYSE:TFX) Price Target to $255.00

Teleflex (NYSE:TFX) had its target price hoisted by equities research analysts at Truist Financial from $247.00 to $255.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price indicates a potential upside of 7.89% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and raised their price target for the company from $205.00 to $245.00 in a report on Monday, July 1st. Royal Bank of Canada raised their price target on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $268.86.

Teleflex Stock Performance

Teleflex stock traded up $0.33 during trading on Monday, reaching $236.36. The company had a trading volume of 6,407 shares, compared to its average volume of 365,814. Teleflex has a 52 week low of $177.63 and a 52 week high of $257.85. The firm’s 50-day simple moving average is $240.18 and its 200 day simple moving average is $222.54. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 42.35, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. During the same period last year, the firm earned $3.41 EPS. Teleflex’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts forecast that Teleflex will post 13.97 earnings per share for the current fiscal year.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after buying an additional 96,711 shares during the period. Janus Henderson Group PLC boosted its position 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 valued at $1,223,424,000 after buying an additional 581,312 shares during the period. Wellington Management Group LLP boosted its position in shares of Teleflex by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after buying an additional 52,533 shares during the period. Cooke & Bieler LP boosted its position in shares of Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after buying an additional 172,335 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Teleflex by 12.0% during the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after acquiring an additional 48,832 shares in the last quarter. Hedge funds and other 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.