Teleflex (NYSE:TFX) Upgraded to “Buy” at StockNews.com

Teleflex (NYSE:TFX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Stephens lifted their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial restated a “hold” rating and set a $227.00 price target (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Trading Down 1.2 %

TFX traded down $2.44 during midday trading on Tuesday, hitting $195.58. 446,394 shares of the company were exchanged, compared to its average volume of 377,896. The firm has a market capitalization of $9.08 billion, a P/E ratio of 38.88, a P/E/G ratio of 2.00 and a beta of 1.18. The firm’s 50 day moving average price is $234.45 and its 200-day moving average price is $223.81. 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 1-year low of $194.58 and a 1-year high of $257.85.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The business had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. During the same period in the prior year, the business posted $3.64 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that Teleflex will post 13.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.43% of the stock is currently owned by company insiders.

Institutional Trading of Teleflex

Several institutional investors have recently made changes to their positions in TFX. ProShare Advisors LLC grew its position in Teleflex by 34.1% in the 1st quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock worth $2,759,000 after purchasing an additional 3,105 shares in the last quarter. Tidal Investments LLC increased its position in shares of Teleflex by 214.7% during the first quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock valued at $1,503,000 after acquiring an additional 4,533 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Teleflex by 2.7% during the second quarter. Boston Trust Walden Corp now owns 233,913 shares of the medical technology company’s stock worth $49,199,000 after acquiring an additional 6,076 shares during the period. Russell Investments Group Ltd. boosted its position in Teleflex by 15.8% in the first quarter. Russell Investments Group Ltd. now owns 18,838 shares of the medical technology company’s stock worth $4,245,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Teleflex in the 1st quarter valued at $537,000. Institutional investors own 95.62% of the company’s stock.

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.