Teleflex (NYSE:TFX) Rating Lowered to Sector Perform at Royal Bank of Canada

Teleflex (NYSE:TFX) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Friday,Briefing.com Automated Import reports. They currently have a $155.00 price target on the medical technology company’s stock, down from their prior price target of $220.00. Royal Bank of Canada’s price target suggests a potential upside of 11.52% from the company’s previous close.

Several other equities research analysts also recently commented on TFX. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday. Piper Sandler restated a “neutral” rating and set a $140.00 price target (down from $255.00) on shares of Teleflex in a research note on Friday. Truist Financial cut their price target on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Mizuho cut their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $207.00.

Teleflex Price Performance

TFX opened at $138.99 on Friday. Teleflex has a 1 year low of $135.95 and a 1 year high of $249.90. The stock has a 50-day moving average price of $176.35 and a 200-day moving average price of $205.70. The firm has a market cap of $6.46 billion, a PE ratio of 27.63, a P/E/G ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 EPS for the quarter, topping the consensus estimate of $3.86 by $0.03. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Sell-side analysts predict that Teleflex will post 13.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of Teleflex during the 4th quarter valued at about $29,000. Avior Wealth Management LLC lifted its holdings in Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Teleflex in the 3rd quarter worth approximately $40,000. True Wealth Design LLC lifted its holdings in Teleflex by 16,600.0% in the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Teleflex in the 3rd quarter worth approximately $54,000. 95.62% of the stock is 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.