Wells Fargo & Company Has Lowered Expectations for Teleflex (NYSE:TFX) Stock Price

Key Points

• Wells Fargo & Company has decreased its price target for Teleflex from $137.00 to $131.00, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 14.80% from the previous close.
• Other analysts have also downgraded Teleflex's rating, with ratings varying from "buy" to "hold", and a recent consensus target price of $158.88 remains.
• Teleflex reported strong quarterly earnings, with an EPS of $3.73, exceeding the analysts' expectations, and a year-over-year revenue increase of 4.2%.

Teleflex (NYSE:TFX - Get Free Report) had its price objective decreased by equities researchers at Wells Fargo & Company from $137.00 to $131.00 in a report released on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the medical technology company's stock. Wells Fargo & Company's price objective indicates a potential upside of 14.80% from the company's previous close.

Several other analysts have also recently commented on the company. Wall Street Zen cut Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Royal Bank Of Canada set a $130.00 price target on Teleflex and gave the stock a "sector perform" rating in a research report on Tuesday, July 15th. Mizuho dropped their price target on Teleflex from $150.00 to $130.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Truist Financial decreased their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, Morgan Stanley decreased their target price on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Teleflex currently has a consensus rating of "Hold" and a consensus target price of $158.88.

Teleflex Price Performance

Shares of Teleflex stock traded down $5.39 on Friday, reaching $114.11. The company's stock had a trading volume of 101,080 shares, compared to its average volume of 810,018. The company has a market capitalization of $5.04 billion, a P/E ratio of 36.00, a PEG ratio of 1.78 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 50-day moving average price of $118.83 and a 200-day moving average price of $137.60. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, beating analysts' consensus estimates of $3.36 by $0.37. The business had revenue of $780.90 million during the quarter, compared to analysts' expectations of $771.53 million. Teleflex had a return on equity of 14.73% and a net margin of 4.96%. The business's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.42 earnings per share. Analysts expect that Teleflex will post 13.98 EPS for the current year.

Hedge Funds Weigh In On Teleflex

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in shares of Teleflex during the 4th quarter worth $29,000. Banque Cantonale Vaudoise acquired a new position in Teleflex during the 1st quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in 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 in the last quarter. Costello Asset Management INC acquired a new position in Teleflex during the 1st quarter worth about $28,000. Finally, Brooklyn Investment Group lifted its stake in Teleflex by 258.6% during the 1st quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock worth $29,000 after acquiring an additional 150 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other 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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