Teleflex (NYSE:TFX) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Teleflex from “hold” to “buy.” Across analysts, the stock carries a “Moderate Buy” consensus rating and an average price target of $160.80.
• Royal Bank of Canada raised its price target to $175 and maintained an “outperform” rating; Wells Fargo also lifted its target, to $167, while keeping an “equal weight” rating.
• Teleflex reported quarterly EPS of $2.63, beating the $1.90 consensus, and revenue of $567.8 million, slightly above expectations. Revenue growth was modest, however, and EPS was down from $3.67 a year earlier.

Teleflex (NYSE:TFX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also commented on the stock. Truist Financial dropped their price target on shares of Teleflex from $150.00 to $142.00 and set a "hold" rating on the stock in a research note on Wednesday, October 14th. Wells Fargo & Company lifted their target price on shares of Teleflex from $138.00 to $167.00 and gave the company an "equal weight" rating in a research report on Friday. Royal Bank Of Canada increased their target price on Teleflex from $155.00 to $175.00 and gave the company an "outperform" rating in a report on Friday. UBS Group upped their target price on Teleflex from $145.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, Mizuho set a $160.00 price objective on Teleflex in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Teleflex currently has an average rating of "Moderate Buy" and a consensus price target of $160.80.

Teleflex Trading Down 0.8%

Shares of Teleflex stock opened at $150.89 on Friday. Teleflex has a 1 year low of $100.18 and a 1 year high of $156.67. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.60 and a quick ratio of 2.12. The firm has a market cap of $6.39 billion, a PE ratio of 16.08, a P/E/G ratio of 0.94 and a beta of 0.85. The stock has a fifty day moving average price of $132.15 and a 200-day moving average price of $126.09.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 EPS for the quarter, beating the consensus estimate of $1.90 by $0.73. The firm had revenue of $567.80 million for the quarter, compared to the consensus estimate of $565.52 million. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. The company's revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $3.67 EPS. Equities research analysts anticipate that Teleflex will post 7.22 EPS for the current year.

Institutional Trading of Teleflex

Several institutional investors and hedge funds have recently modified their holdings of TFX. BlackRock Inc. bought a new position in Teleflex in the 2nd quarter worth about $688,537,000. Jupiter Topco LLC bought a new stake in shares of Teleflex during the 2nd quarter valued at $550,456,000. Irenic Capital Management LP purchased a new stake in shares of Teleflex in the first quarter worth about $104,061,000. Pzena Investment Management LLC purchased a new stake in Teleflex in the 2nd quarter worth approximately $76,462,000. Finally, Bank of America Corp DE acquired a new stake in shares of Teleflex during the second quarter worth $61,156,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex News Summary

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $175 from $155 and maintained an “outperform” rating, implying about 16% upside from the cited share price. Royal Bank of Canada rating
• Positive Sentiment: Wells Fargo increased its target to $167 from $138, while keeping an “equal weight” rating. Mizuho also raised its target, to $160. Wells Fargo rating Mizuho price target
• Positive Sentiment: Adjusted third-quarter EPS of $2.63 topped analyst estimates of about $1.90. Revenue of $567.8 million also narrowly exceeded expectations. Third-quarter results and outlook
• Neutral Sentiment: Teleflex declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a yield of about 0.9%. Dividend announcement
• Negative Sentiment: Revenue grew only 0.2% year over year, and adjusted EPS fell from $3.67 a year earlier. The modest reported growth may limit enthusiasm despite the earnings beat. Third-quarter results and outlook

Teleflex Company Profile

Teleflex Incorporated is a global medical technology company that develops, manufactures and markets specialty medical devices. Its products are designed to support healthcare professionals in critical care and procedural settings, including vascular access, interventional cardiology and radiology, anesthesia, respiratory care, emergency medicine, surgical applications and urology.

The company's portfolio includes catheters, access and closure devices, airway-management products, surgical instruments, pain-management devices and other technologies used in hospitals and outpatient facilities.

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