Wells Fargo & Company Forecasts Strong Price Appreciation for Teleflex (NYSE:TFX) Stock

Key Points

• Wells Fargo raised its Teleflex price target from $138 to $167, implying 11.12% upside, while maintaining an “equal weight” rating.
• Analyst sentiment is generally positive: Teleflex has a consensus “Moderate Buy” rating and an average price target of $158.80.
• Teleflex beat quarterly EPS and revenue estimates, reporting EPS of $2.63 and revenue of $567.8 million. However, revenue growth was minimal year over year, and EPS was below the prior-year quarter’s $3.67.

Teleflex (NYSE:TFX - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $138.00 to $167.00 in a report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the medical technology company's stock. Wells Fargo & Company's price target points to a potential upside of 11.12% from the company's previous close.

Several other research firms have also recently weighed in on TFX. UBS Group boosted their price target on Teleflex from $145.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Needham & Company LLC increased their price objective on Teleflex from $159.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Teleflex in a report on Monday, September 21st. Wall Street Zen raised Teleflex from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Zacks Research lowered Teleflex from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Teleflex currently has an average rating of "Moderate Buy" and a consensus target price of $158.80.

Teleflex Price Performance

Shares of NYSE:TFX opened at $150.29 on Friday. The business has a fifty day moving average price of $131.88 and a 200-day moving average price of $125.84. 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 company has a market capitalization of $6.37 billion, a PE ratio of -6.37, a PEG ratio of 1.01 and a beta of 0.85. Teleflex has a 1-year low of $100.18 and a 1-year high of $156.67.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The medical technology company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.73. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. The company had revenue of $567.80 million for the quarter, compared to analysts' expectations of $565.52 million. During the same quarter in the previous year, the business posted $3.67 EPS. Teleflex's revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Teleflex will post 7.22 EPS for the current fiscal year.

Institutional Trading of Teleflex

Several large investors have recently modified their holdings of TFX. BlackRock Inc. purchased a new stake in Teleflex in the 2nd quarter worth approximately $688,537,000. Jupiter Topco LLC purchased a new stake in shares of Teleflex in the second quarter worth $550,456,000. Janus Henderson Group PLC increased its stake in shares of Teleflex by 1.1% in the first quarter. Janus Henderson Group PLC now owns 4,291,311 shares of the medical technology company's stock worth $513,281,000 after purchasing an additional 45,199 shares in the last quarter. Irenic Capital Management LP purchased a new stake in shares of Teleflex in the first quarter worth $104,061,000. Finally, Pzena Investment Management LLC bought a new stake in shares of Teleflex during the 2nd quarter valued at $76,462,000. Institutional investors own 95.62% of the company's stock.

Key Teleflex News

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Teleflex reported third-quarter adjusted EPS of $2.63, above analyst estimates of about $1.90–$1.92. Revenue of $567.8 million also modestly exceeded expectations. Teleflex third-quarter results and outlook
• Positive Sentiment: Mizuho raised its price target on TFX to $160, potentially signaling improved analyst expectations for the shares. Mizuho price target update
• Neutral Sentiment: The company declared a quarterly dividend of $0.34 per share, payable December 31 to shareholders of record November 16. Teleflex dividend announcement
• Neutral Sentiment: A tranche update was reported for Teleflex’s previously announced share-repurchase plan, but the provided item does not specify the size or details of the update. Share buyback plan update
• Negative Sentiment: Despite the earnings beat, revenue grew only 0.2% year over year, while adjusted EPS declined from $3.67 a year earlier. This points to limited underlying growth and may temper the positive reaction to the quarter.

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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