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

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

TFX has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Truist Financial cut their price objective on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Mizuho set a $155.00 price objective on shares of Teleflex in a research report on Wednesday, April 16th. Finally, Bank of America lowered shares of Teleflex from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $235.00 to $140.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $164.63.

Teleflex Stock Performance

Shares of TFX opened at $119.42 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28. Teleflex has a twelve month low of $115.94 and a twelve month high of $249.91. The firm's 50 day moving average price is $124.41 and its two-hundred day moving average price is $147.58. The firm has a market cap of $5.28 billion, a P/E ratio of 37.67, a PEG ratio of 1.87 and a beta of 1.10.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.03. The firm had revenue of $700.67 million for the quarter, compared to analyst estimates of $699.37 million. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The business's revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 earnings per share. On average, analysts forecast that Teleflex will post 13.98 EPS for the current fiscal year.

Institutional Trading of Teleflex

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Norges Bank acquired a new position in shares of Teleflex in the fourth quarter valued at $100,328,000. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 355,720 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock valued at $190,188,000 after purchasing an additional 347,003 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Teleflex by 122.8% in 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 purchasing an additional 322,222 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in shares of Teleflex by 1,400.1% in 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 purchasing an additional 321,751 shares during the last quarter. 95.62% of the stock is owned by institutional investors.

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.

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