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

Key Points

• Teleflex has been downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating.
• Wells Fargo reduced its target price for Teleflex from $137.00 to $131.00, while both Royal Bank of Canada and Mizuho increased theirs to $135.00.
• In the last quarter, Teleflex reported $3.73 earnings per share, exceeding expectations and signifying a 4.2% revenue increase compared to the prior year.

Teleflex (NYSE:TFX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Monday.

A number of other equities analysts have also weighed in on TFX. Royal Bank Of Canada increased their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Mizuho raised their price objective on shares of Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company cut their price objective on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Teleflex presently has a consensus rating of "Hold" and an average target price of $141.57.

Teleflex Stock Performance

NYSE:TFX traded down $3.16 on Monday, reaching $122.64. 1,037,011 shares of the company's stock were exchanged, compared to its average volume of 580,725. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.76 and a beta of 1.08. Teleflex has a 52 week low of $108.90 and a 52 week high of $249.90. The stock has a fifty day simple moving average of $121.66 and a 200-day simple moving average of $125.82.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.36 by $0.37. The firm had revenue of $780.90 million during the quarter, compared to analyst estimates of $771.53 million. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. The company's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $3.42 earnings per share. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. As a group, sell-side analysts predict that Teleflex will post 13.98 earnings per share for the current year.

Insider Activity at Teleflex

In other Teleflex news, CEO Liam Kelly purchased 1,500 shares of Teleflex stock in a transaction on Tuesday, August 5th. The shares were acquired at an average cost of $115.07 per share, for a total transaction of $172,605.00. Following the completion of the transaction, the chief executive officer directly owned 45,267 shares of the company's stock, valued at approximately $5,208,873.69. The trade was a 3.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stuart A. Randle acquired 1,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average price of $115.86 per share, with a total value of $115,860.00. Following the completion of the acquisition, the director owned 7,547 shares in the company, valued at approximately $874,395.42. The trade was a 15.27% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 5,500 shares of company stock worth $633,590 in the last quarter. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teleflex

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Teleflex during the second quarter valued at about $65,826,000. Pzena Investment Management LLC purchased a new stake in Teleflex during the second quarter valued at about $42,149,000. Dimensional Fund Advisors LP boosted its position in Teleflex by 69.5% during the first quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company's stock valued at $119,927,000 after buying an additional 355,720 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Teleflex by 122.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock valued at $80,784,000 after buying an additional 322,222 shares during the period. Finally, Invenomic Capital Management LP boosted its position in Teleflex by 1,400.1% during the first quarter. Invenomic Capital Management LP now owns 344,732 shares of the medical technology company's stock valued at $47,639,000 after buying an additional 321,751 shares during the period. Hedge funds and other institutional investors own 95.62% of the company's stock.

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.