Teleflex (NYSE:TFX) Price Target Raised to $167.00

Key Points

• Truist Financial raised its Teleflex price target to $167 from $142 while maintaining a “hold” rating, implying 11.04% upside from the previous close.
• Analyst sentiment is mixed but leans positive: Teleflex has a consensus “Moderate Buy” rating and an average price target of $163.30.
• Teleflex reported quarterly earnings of $2.63 per share, beating estimates of $1.90; revenue of $567.8 million was slightly above expectations.

Teleflex (NYSE:TFX - Get Free Report) had its price objective boosted by equities research analysts at Truist Financial from $142.00 to $167.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the medical technology company's stock. Truist Financial's target price indicates a potential upside of 11.04% from the stock's previous close.

TFX has been the topic of a number of other research reports. Needham & Company LLC boosted their target price on shares of Teleflex from $159.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Royal Bank Of Canada raised their price target on shares of Teleflex from $155.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $169.00 price target (up from $160.00) on shares of Teleflex in a research note on Friday, August 7th. Weiss Ratings reiterated a "sell (d)" rating on shares of Teleflex in a report on Monday, September 21st. Finally, Wall Street Zen raised shares of Teleflex from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Teleflex currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.30.

Teleflex Trading Down 0.3%

TFX opened at $150.39 on Monday. The stock has a market cap of $6.37 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. The company has a quick ratio of 1.59, a current ratio of 2.01 and a debt-to-equity ratio of 0.44. Teleflex has a twelve month low of $100.18 and a twelve month high of $156.67. The company has a fifty day moving average of $132.15 and a 200-day moving average of $126.09.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The medical technology company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.73. Teleflex had a net margin of 13.51% and a return on equity of 10.57%. The business had revenue of $567.80 million for the quarter, compared to analysts' expectations of $565.52 million. During the same quarter in the prior year, the firm posted $3.67 earnings per share. The business's quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that Teleflex will post 7.63 EPS for the current year.

Institutional Trading of Teleflex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System boosted its holdings in Teleflex by 40.5% during the third quarter. Maryland State Retirement & Pension System now owns 12,095 shares of the medical technology company's stock worth $1,512,000 after purchasing an additional 3,486 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Teleflex by 4.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 23,801 shares of the medical technology company's stock worth $2,976,000 after purchasing an additional 1,071 shares in the last quarter. Keybank National Association OH purchased a new stake in Teleflex in the 3rd quarter valued at about $536,000. AlphaCore Capital LLC purchased a new stake in Teleflex in the 3rd quarter valued at about $358,000. Finally, Fulcrum Asset Management LLP bought a new position in shares of Teleflex during the 3rd quarter worth approximately $343,000. Institutional investors own 95.62% of the company's stock.

About Teleflex

Teleflex is a global medical technology company that develops, manufactures and markets single-use medical devices used by healthcare professionals in hospitals and other care settings. Its products support a range of procedures, including vascular access, anesthesia, critical care, surgery, urology and emergency medicine.

The company's offerings include vascular and interventional access devices, catheters, airway management products, surgical instruments and other devices used in diagnostic and therapeutic procedures.

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