Teleflex (NYSE:TFX) Stock Gets Price Target Bump from Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Teleflex’s price target to $175 from $155 and maintained an Outperform rating, implying about 14.8% upside from the prior close.
• Teleflex reported quarterly EPS of $2.63, beating the $1.90 consensus, and revenue of $567.8 million, slightly above estimates.
• Analyst sentiment is moderately positive: MarketBeat’s consensus rating is “Moderate Buy,” with an average price target of $160.80. However, revenue growth was minimal and EPS was down from $3.67 a year earlier.

Teleflex (NYSE:TFX - Get Free Report) had its price target hoisted by investment analysts at Royal Bank Of Canada from $155.00 to $175.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the medical technology company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 14.84% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Teleflex from $138.00 to $167.00 and gave the company an "equal weight" rating in a research note on Friday. Bank of America upgraded Teleflex from a "neutral" rating to a "buy" rating and boosted their price target for the company from $145.00 to $158.00 in a research note on Monday, September 28th. Needham & Company LLC upped their price target on Teleflex from $159.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. UBS Group raised their price objective on Teleflex from $145.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Finally, Zacks Research lowered Teleflex from a "strong-buy" rating to a "hold" rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $160.80.

Teleflex Stock Performance

Shares of Teleflex stock traded up $0.23 during midday trading on Friday, hitting $152.38. The company had a trading volume of 381,853 shares, compared to its average volume of 781,989. Teleflex has a 1-year low of $100.18 and a 1-year high of $156.67. The business's 50 day simple moving average is $131.88 and its two-hundred day simple moving average is $125.84. The stock has a market cap of $6.46 billion, a PE ratio of -6.54, a P/E/G ratio of 1.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.60 and a quick ratio of 2.12.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The medical technology company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.73. The firm had revenue of $567.80 million during 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 business's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.67 EPS. As a group, equities analysts predict that Teleflex will post 7.22 EPS for the current fiscal year.

Institutional Trading of Teleflex

Large investors have recently bought and sold shares of the stock. Kelleher Financial Advisors acquired a new stake in shares of Teleflex in the 2nd quarter valued at $25,000. Root Financial Partners LLC acquired a new position in shares of Teleflex during the third quarter valued at $27,000. Next Level Wealth Planning LLC acquired a new position in shares of Teleflex during the third quarter valued at $38,000. Heritage Family Offices LLP bought a new position in Teleflex in the third quarter valued at about $39,000. Finally, Allworth Financial LP bought a new position in Teleflex in the second quarter valued at about $44,000. 95.62% of the stock is currently owned by institutional investors.

Key Headlines Impacting Teleflex

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Adjusted third-quarter earnings were $2.63 per share, above analyst expectations of about $1.90–$1.92. Revenue of $567.8 million also narrowly exceeded estimates. Teleflex Q3 earnings surpass estimates
• Positive Sentiment: Wells Fargo raised its price target to $167 from $138 while keeping an Equal Weight rating. Mizuho also lifted its target, to $160. Higher targets may support sentiment, though neither update signals an outright bullish rating. Mizuho raises Teleflex price target
• Neutral Sentiment: Teleflex declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a yield of about 0.9%. The ex-dividend date is November 16. Teleflex declares dividend
• Negative Sentiment: Revenue grew just 0.2% year over year as reported, or 3.0% on a pro forma adjusted constant-currency basis. Adjusted EPS was below the $3.67 reported for the year-ago quarter, tempering the positive impact of the estimate beat. Teleflex Q3 financial results and outlook

About Teleflex

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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