Teleflex (NYSE:TFX) Shares Gap Down - Time to Sell?

Teleflex Incorporated (NYSE:TFX - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $235.22, but opened at $205.58. Teleflex shares last traded at $207.24, with a volume of 109,680 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TFX. Royal Bank of Canada upped their price target on shares of Teleflex from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Truist Financial upped their price target on shares of Teleflex from $247.00 to $255.00 and gave the stock a "hold" rating in a research note on Monday, October 14th. Finally, Stephens upped their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Teleflex currently has a consensus rating of "Moderate Buy" and a consensus price target of $268.86.

Teleflex Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. The stock's fifty day moving average is $240.93 and its 200-day moving average is $224.08. The stock has a market capitalization of $9.47 billion, a P/E ratio of 36.80, a PEG ratio of 2.12 and a beta of 1.16.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million during the quarter, compared to analysts' expectations of $762.98 million. During the same period in the prior year, the company earned $3.41 earnings per share. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Insider Buying and Selling at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.43% of the company's stock.

Institutional Investors Weigh In On Teleflex

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Teleflex in the first quarter valued at about $2,467,000. ProShare Advisors LLC raised its position in Teleflex by 34.1% in the first quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company's stock worth $2,759,000 after purchasing an additional 3,105 shares in the last quarter. Tidal Investments LLC raised its position in Teleflex by 214.7% in the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company's stock worth $1,503,000 after purchasing an additional 4,533 shares in the last quarter. Boston Trust Walden Corp raised its position in Teleflex by 2.7% in the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company's stock worth $49,199,000 after purchasing an additional 6,076 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company's stock worth $4,245,000 after purchasing an additional 2,570 shares in the last quarter. 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.