Wall Street Zen Upgrades Teleflex (NYSE:TFX) to Strong-Buy

Key Points

• Teleflex has been upgraded from a "hold" rating to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the company's stock performance.
• Multiple analysts have adjusted their price targets for Teleflex, with a consensus rating of "Hold" and an average price target of $160.13.
• The company's recent earnings report showed an EPS of $3.73, exceeding expectations, and a revenue increase of 4.2% compared to the same quarter last year.

Teleflex (NYSE:TFX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a report issued on Saturday.

Other equities analysts also recently issued reports about the stock. Mizuho lifted their price objective on shares of Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday. Truist Financial dropped their price target 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. Morgan Stanley reduced their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Royal Bank Of Canada increased their price objective on shares of Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Wells Fargo & Company cut their target price on Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Teleflex has a consensus rating of "Hold" and an average price target of $160.13.

Teleflex Price Performance

Teleflex stock opened at $115.87 on Friday. The stock's 50 day moving average is $118.73 and its 200 day moving average is $137.16. Teleflex has a one year low of $108.90 and a one year high of $249.90. The firm has a market cap of $5.12 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.32.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.36 by $0.37. The firm had revenue of $780.90 million for the quarter, compared to analysts' expectations of $771.53 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.42 EPS. As a group, research analysts expect that Teleflex will post 13.98 EPS for the current year.

Hedge Funds Weigh In On Teleflex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TFX. Headlands Technologies LLC purchased a new position in shares of Teleflex in the fourth quarter worth approximately $29,000. Banque Cantonale Vaudoise bought a new position in Teleflex in the first quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Teleflex by 103.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Teleflex during the 1st quarter valued at $28,000. Finally, Brooklyn Investment Group increased its stake in shares of Teleflex by 258.6% in the 1st quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock worth $29,000 after purchasing an additional 150 shares in the last quarter. 95.62% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.