Teleflex (NYSE:TFX) Given New $137.00 Price Target at Truist Financial

Teleflex (NYSE:TFX - Get Free Report) had its price target dropped by equities researchers at Truist Financial from $140.00 to $137.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the medical technology company's stock. Truist Financial's price target points to a potential upside of 9.40% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley cut their price target on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a report on Monday. StockNews.com downgraded Teleflex from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Citizens Jmp cut Teleflex from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada lowered their price objective on shares of Teleflex from $150.00 to $145.00 and set a "sector perform" rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $164.63.

Teleflex Price Performance

Shares of NYSE:TFX traded down $1.19 during trading on Monday, reaching $125.23. 126,179 shares of the company traded hands, compared to its average volume of 636,251. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex has a 52 week low of $124.57 and a 52 week high of $249.91. The firm has a market capitalization of $5.81 billion, a PE ratio of 24.91, a PEG ratio of 1.73 and a beta of 1.19. The company's 50 day moving average is $135.82 and its two-hundred day moving average is $169.89.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.03. The company had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business's quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.21 earnings per share. As a group, sell-side analysts predict that Teleflex will post 13.98 earnings per share for the current year.

Institutional Trading of Teleflex

A number of hedge funds have recently added to or reduced their stakes in TFX. Norges Bank purchased a new stake in shares of Teleflex in the 4th quarter worth approximately $100,328,000. Invesco Ltd. boosted 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 acquiring an additional 347,003 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in Teleflex in the fourth quarter worth about $46,696,000. T. Rowe Price Investment Management Inc. lifted its position in Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock valued at $1,098,693,000 after acquiring an additional 261,279 shares during the last quarter. Finally, Magnetar Financial LLC boosted its stake in Teleflex by 105.2% in the fourth quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company's stock valued at $74,990,000 after acquiring an additional 215,961 shares in the last quarter. 95.62% of the stock is 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.

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