Teleflex (NYSE:TFX) Price Target Lowered to $140.00 at Truist Financial

Teleflex (NYSE:TFX - Get Free Report) had its target price cut by equities researchers at Truist Financial from $149.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the medical technology company's stock. Truist Financial's price target would indicate a potential upside of 9.90% from the stock's current price.

A number of other brokerages have also weighed in on TFX. Piper Sandler restated a "neutral" rating and issued a $140.00 price objective (down from $255.00) on shares of Teleflex in a report on Friday, February 28th. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their price target on shares of Teleflex from $214.00 to $146.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. StockNews.com downgraded shares of Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Morgan Stanley dropped their target price on shares of Teleflex from $275.00 to $191.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Teleflex has a consensus rating of "Hold" and a consensus price target of $181.50.

Teleflex Stock Down 0.9 %

Shares of Teleflex stock traded down $1.12 during midday trading on Friday, hitting $127.39. The company had a trading volume of 136,668 shares, compared to its average volume of 616,106. Teleflex has a 52-week low of $124.66 and a 52-week high of $249.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The stock has a market capitalization of $5.91 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.73 and a beta of 1.19. The company has a 50 day moving average of $146.22 and a 200 day moving average of $179.92.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share 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 during the quarter, compared to the consensus estimate of $813.24 million. On average, equities analysts predict that Teleflex will post 13.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teleflex

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. raised its stake in shares of Teleflex by 21.9% in the fourth quarter. Vontobel Holding Ltd. now owns 1,393 shares of the medical technology company's stock worth $248,000 after buying an additional 250 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Teleflex by 14.3% in the third quarter. JPMorgan Chase & Co. now owns 155,158 shares of the medical technology company's stock worth $38,374,000 after purchasing an additional 19,466 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Teleflex by 5.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 108,231 shares of the medical technology company's stock valued at $19,263,000 after purchasing an additional 5,322 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Teleflex by 35.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,875 shares of the medical technology company's stock valued at $1,053,000 after buying an additional 1,527 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Teleflex in the 4th quarter worth $729,000. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

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.