Teleflex (NYSE:TFX) Downgraded to "Hold" Rating by Wall Street Zen

Teleflex (NYSE:TFX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

A number of other equities research analysts have also weighed in on TFX. Wells Fargo & Company decreased their target price on Teleflex from $146.00 to $137.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Truist Financial cut their price target on Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Mizuho set a $155.00 price objective on shares of Teleflex in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a "hold" rating on shares of Teleflex in a report on Wednesday, March 12th. Finally, Royal Bank Of Canada reduced their price target on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $164.63.

Teleflex Trading Down 0.2%

Shares of TFX traded down $0.21 during trading hours on Friday, reaching $121.62. 220,963 shares of the company traded hands, compared to its average volume of 628,511. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 1.85 and a beta of 1.08. Teleflex has a 12-month low of $115.94 and a 12-month high of $249.91. The stock's fifty day moving average price is $123.99 and its 200 day moving average price is $146.72. The company has a current ratio of 2.28, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44.

Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $0.03. The business had revenue of $700.67 million for the quarter, compared to the consensus estimate of $699.37 million. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The company's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 EPS. Sell-side analysts forecast that Teleflex will post 13.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TFX. T. Rowe Price Investment Management Inc. grew its holdings in Teleflex by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,216,763 shares of the medical technology company's stock worth $859,095,000 after purchasing an additional 43,642 shares during the last quarter. Geode Capital Management LLC grew its stake in Teleflex by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company's stock worth $202,161,000 after buying an additional 8,307 shares during the last quarter. Cooke & Bieler LP grew its stake in Teleflex by 22.1% during the 4th quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company's stock worth $191,962,000 after buying an additional 195,150 shares during the last quarter. Invesco Ltd. increased its position in Teleflex by 48.1% during the 4th quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock valued at $190,188,000 after buying an additional 347,003 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Teleflex by 69.5% in 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 last quarter. Institutional investors own 95.62% of the company's stock.

About Teleflex

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.