Teleflex (NYSE:TFX) Stock Rating Upgraded by StockNews.com

Teleflex (NYSE:TFX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada cut their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Mizuho decreased their price objective on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, November 1st. Finally, Truist Financial reaffirmed a “hold” rating and set a $227.00 target price (down previously from $255.00) on shares of Teleflex in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.25.

Teleflex Stock Performance

NYSE TFX traded down $2.44 on Tuesday, hitting $195.58. 446,394 shares of the stock traded hands, compared to its average volume of 377,896. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 2.00 and a beta of 1.18. The business’s fifty day moving average is $234.45 and its two-hundred day moving average is $223.81. 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 has a 12 month low of $194.58 and a 12 month high of $257.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share 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 company had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same quarter last year, the firm posted $3.64 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Teleflex will post 13.98 EPS for the current fiscal year.

Insider Activity at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in shares of Teleflex by 49.3% in the 3rd quarter. Cerity Partners LLC now owns 13,374 shares of the medical technology company’s stock worth $3,308,000 after purchasing an additional 4,415 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Teleflex by 5.4% in the third quarter. Raymond James Trust N.A. now owns 2,110 shares of the medical technology company’s stock worth $522,000 after buying an additional 108 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Teleflex by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 427,579 shares of the medical technology company’s stock worth $105,749,000 after buying an additional 1,884 shares in the last quarter. Cypress Capital Group purchased a new position in shares of Teleflex during the third quarter worth approximately $223,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Teleflex by 37.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 42,251 shares of the medical technology company’s stock worth $10,450,000 after acquiring an additional 11,553 shares during the last quarter. 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.