Teleflex (NYSE:TFX) Shares Up 3.8% Following Analyst Upgrade

Key Points

• Teleflex shares rose 3.8% after Bank of America upgraded the stock from neutral to buy and raised its price target from $145 to $158.
• Analysts maintain a generally positive outlook, with Teleflex carrying a consensus “Moderate Buy” rating and an average target price of $155.20.
• Institutional investors own 95.62% of the company, while its latest quarterly results beat expectations with $1.76 in earnings per share and $570.33 million in revenue.

Shares of Teleflex Incorporated (NYSE:TFX - Get Free Report) traded up 3.8% on Monday after Bank of America upgraded the stock from a neutral rating to a buy rating. Bank of America now has a $158.00 price target on the stock, up from their previous price target of $145.00. Teleflex traded as high as $126.46 and last traded at $126.7310. Approximately 510,016 shares traded hands during trading, a decline of 34% from the average daily volume of 778,157 shares. The stock had previously closed at $122.07.

TFX has been the topic of several other reports. Wall Street Zen upgraded shares of Teleflex from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Piper Sandler restated an "overweight" rating and set a $169.00 price objective (up from $160.00) on shares of Teleflex in a research report on Friday, August 7th. UBS Group upped their target price on shares of Teleflex from $145.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. BMO Capital Markets began coverage on shares of Teleflex in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $159.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of Teleflex from $143.00 to $150.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Teleflex has a consensus rating of "Moderate Buy" and a consensus target price of $155.20.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Teleflex in the 2nd quarter valued at $688,537,000. Jupiter Topco LLC purchased a new position in Teleflex during the 2nd quarter worth $550,456,000. Irenic Capital Management LP purchased a new position in Teleflex during the 1st quarter worth $104,061,000. Pzena Investment Management LLC purchased a new position in Teleflex during the 2nd quarter worth $76,462,000. Finally, Norges Bank acquired a new position in Teleflex in the fourth quarter valued at $66,076,000. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Trading Up 3.8%

The business's 50 day simple moving average is $134.00 and its 200 day simple moving average is $128.64. 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 $5.37 billion, a price-to-earnings ratio of -5.43, a price-to-earnings-growth ratio of 0.81 and a beta of 0.82.

Teleflex (NYSE:TFX - Get Free Report) last announced its earnings results on Thursday, August 6th. The medical technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.48. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. The business had revenue of $570.33 million during the quarter, compared to the consensus estimate of $559.59 million. During the same quarter in the prior year, the firm earned $3.73 earnings per share. The business's quarterly revenue was up 28.9% compared to the same quarter last year. Teleflex has set its FY 2026 guidance at 6.900-7.200 EPS. Research analysts anticipate that Teleflex Incorporated will post 7.26 EPS for the current year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. Teleflex's dividend payout ratio (DPR) is presently -5.84%.

About Teleflex

Teleflex Incorporated is a global medical technology company that develops, manufactures and supplies specialty medical devices for hospitals, clinicians and other health care providers. Its products are designed to support procedures in areas including vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgery and urology.

The company's portfolio includes Arrow branded vascular access and catheter products, airway management devices, regional anesthesia products, surgical instruments, interventional devices and urological products.

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