Teleflex (NYSE:TFX) Upgraded by StockNews.com to "Buy" Rating

Teleflex (NYSE:TFX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.

Other equities analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada reduced their price objective on shares of Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Mizuho lowered their target price on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. Stephens lifted their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Finally, Truist Financial restated a "hold" rating and issued a $227.00 price objective (down 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $259.25.

Teleflex Trading Up 0.5 %

Shares of TFX traded up $0.99 during mid-day trading on Thursday, reaching $192.00. The stock had a trading volume of 278,612 shares, compared to its average volume of 381,834. Teleflex has a 52-week low of $185.66 and a 52-week high of $257.85. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 1.99 and a beta of 1.18. The business's fifty day moving average is $221.96 and its 200 day moving average is $222.66. 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 (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.11. The business had revenue of $764.40 million during the quarter, compared to analysts' expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.64 EPS. On average, sell-side analysts predict that Teleflex will post 13.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Teleflex

Several institutional investors have recently modified their holdings of TFX. Janus Henderson Group PLC boosted its holdings in Teleflex by 2.8% in the third quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company's stock valued at $1,329,704,000 after purchasing an additional 147,147 shares during the period. State Street Corp boosted its stake in shares of Teleflex by 1.0% in the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company's stock valued at $508,757,000 after buying an additional 21,291 shares during the period. Geode Capital Management LLC grew its position in shares of Teleflex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,130,560 shares of the medical technology company's stock worth $278,676,000 after buying an additional 5,746 shares in the last quarter. Cooke & Bieler LP increased its stake 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 worth $191,989,000 after buying an additional 172,335 shares during the period. Finally, TD Asset Management Inc increased 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 worth $95,928,000 after buying an additional 48,832 shares during the period. Institutional investors and hedge funds 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.