Bank of America Upgrades Teleflex (NYSE:TFX) to "Buy"

Key Points

• Bank of America upgraded Teleflex to “Buy” from “Neutral” and raised its price target to $158 from $145, implying approximately 29% upside from the prior close.
• Analyst sentiment is broadly positive, with Teleflex holding a “Moderate Buy” consensus rating and an average price target of $155.20; Needham and Zacks also recently issued bullish assessments.
• Teleflex exceeded quarterly expectations, reporting $1.76 in EPS versus the $1.28 consensus and 28.9% year-over-year revenue growth. Institutional investors own 95.62% of the company’s shares.

Teleflex (NYSE:TFX - Get Free Report) was upgraded by equities research analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Monday, Benzinga reports. The firm currently has a $158.00 price objective on the medical technology company's stock, up from their prior price objective of $145.00. Bank of America's price target suggests a potential upside of 29.04% from the stock's previous close.

TFX has been the topic of several other research reports. UBS Group raised their target price on shares of Teleflex from $145.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Needham & Company LLC raised their price target on shares of Teleflex from $159.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Wall Street Zen upgraded shares of Teleflex from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Piper Sandler reaffirmed an "overweight" rating and set a $169.00 price objective (up from $160.00) on shares of Teleflex in a research note on Friday, August 7th. Finally, Zacks Research raised Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $155.20.

Teleflex Stock Up 0.3%

TFX opened at $122.44 on Monday. Teleflex has a 12 month low of $100.18 and a 12 month high of $145.00. The company has a current ratio of 2.60, a quick ratio of 2.12 and a debt-to-equity ratio of 0.94. The business's 50-day moving average price is $134.00 and its 200-day moving average price is $128.64. The company has a market cap of $5.19 billion, a P/E ratio of -5.26, a P/E/G ratio of 0.81 and a beta of 0.82.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical technology company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.48. The business had revenue of $570.33 million for the quarter, compared to analyst estimates of $559.59 million. Teleflex had a positive return on equity of 11.93% and a negative net margin of 39.67%.Teleflex's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the company earned $3.73 EPS. Teleflex has set its FY 2026 guidance at 6.900-7.200 EPS. On average, equities analysts expect that Teleflex will post 7.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Teleflex during the second quarter valued at approximately $688,537,000. Jupiter Topco LLC purchased a new stake in shares of Teleflex in the 2nd quarter worth about $550,456,000. Irenic Capital Management LP bought a new position in shares of Teleflex in the 1st quarter worth about $104,061,000. Pzena Investment Management LLC purchased a new position in shares of Teleflex during the second quarter valued at approximately $76,462,000. Finally, Norges Bank bought a new stake in Teleflex in the fourth quarter worth $66,076,000. Institutional investors own 95.62% of the company's stock.

Teleflex Company Profile

Teleflex Incorporated is a global medical technology company that develops, manufactures and supplies specialty medical devices for hospitals, clinicians and other health care providers. Its products are designed to support procedures in areas including vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgery and urology.

The company's portfolio includes Arrow branded vascular access and catheter products, airway management devices, regional anesthesia products, surgical instruments, interventional devices and urological products.

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