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

Teleflex (NYSE:TFX - Get Free Report) was downgraded by investment analysts at Bank of America from a "neutral" rating to an "underperform" rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $140.00 price target on the medical technology company's stock, down from their previous price target of $235.00. Bank of America's target price indicates a potential upside of 4.19% from the company's previous close.

TFX has been the subject of several other research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Teleflex in a report on Monday, December 16th. Citizens Jmp cut shares of Teleflex from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Royal Bank of Canada lowered shares of Teleflex from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $220.00 to $155.00 in a research note on Friday, February 28th. Wells Fargo & Company lowered their price target on shares of Teleflex from $214.00 to $146.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Piper Sandler restated a "neutral" rating and set a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $182.63.

Teleflex Stock Performance

Shares of TFX stock traded up $3.59 on Tuesday, reaching $134.38. The stock had a trading volume of 1,398,393 shares, compared to its average volume of 798,833. Teleflex has a 12 month low of $128.55 and a 12 month high of $249.90. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.73 and a beta of 1.16. The firm's 50-day moving average is $173.65 and its two-hundred day moving average is $203.17. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $795.40 million for the quarter, compared to analyst estimates of $813.24 million. On average, research analysts expect that Teleflex will post 13.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Teleflex

Several institutional investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC increased its position in shares of Teleflex by 3.7% during the third quarter. Apollon Wealth Management LLC now owns 1,524 shares of the medical technology company's stock valued at $377,000 after buying an additional 55 shares during the period. SRS Capital Advisors Inc. grew its stake in Teleflex by 0.3% during the third quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company's stock valued at $4,844,000 after acquiring an additional 60 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Teleflex by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 15,332 shares of the medical technology company's stock valued at $3,792,000 after acquiring an additional 65 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Teleflex by 4.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,517 shares of the medical technology company's stock worth $375,000 after acquiring an additional 66 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Teleflex by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 3,998 shares of the medical technology company's stock worth $986,000 after purchasing an additional 66 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.