Teleflex (NYSE:TFX) Price Target Lowered to $219.00 at Truist Financial

Teleflex (NYSE:TFX - Get Free Report) had its price target reduced by investment analysts at Truist Financial from $240.00 to $219.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "hold" rating on the medical technology company's stock. Truist Financial's price target points to a potential upside of 7.88% from the company's previous close.

Other analysts have also issued reports about the stock. Royal Bank of Canada reduced their price objective on shares of Teleflex from $272.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a research note on Friday. JMP Securities reiterated a "market outperform" rating and set a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. Finally, StockNews.com lowered shares of Teleflex from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Teleflex currently has an average rating of "Moderate Buy" and a consensus price target of $261.75.

Teleflex Trading Up 2.2 %

Shares of TFX stock traded up $4.28 on Friday, hitting $203.01. 508,387 shares of the stock traded hands, compared to its average volume of 281,471. The firm's 50-day moving average price is $217.97 and its two-hundred day moving average price is $226.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.29 and a current ratio of 2.32. The stock has a market capitalization of $9.56 billion, a PE ratio of 26.96, a PEG ratio of 2.03 and a beta of 1.13. Teleflex has a twelve month low of $177.63 and a twelve month high of $262.97.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.14. The firm had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. Teleflex's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.09 EPS. As a group, analysts anticipate that Teleflex will post 13.73 EPS for the current year.

Insider Buying and Selling

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.43% of the company's stock.

Hedge Funds Weigh In On Teleflex

Several hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company's stock valued at $26,000 after buying an additional 103 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Teleflex during the third quarter worth about $27,000. Covestor Ltd lifted its holdings in shares of Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Teleflex in the 1st quarter valued at about $31,000. Finally, Lindbrook Capital LLC grew its stake in Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company's stock worth $34,000 after buying an additional 58 shares during the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Company Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.