Piper Sandler Upgrades Teleflex (NYSE:TFX) to Overweight

Teleflex (NYSE:TFX) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Monday, Marketbeat reports. The firm presently has a $245.00 price target on the medical technology company’s stock, up from their prior price target of $205.00. Piper Sandler’s price objective would suggest a potential upside of 16.05% from the company’s current price.

A number of other research firms also recently commented on TFX. Truist Financial decreased their target price on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $260.14.

Teleflex Price Performance

Shares of TFX stock opened at $211.11 on Monday. Teleflex has a fifty-two week low of $177.63 and a fifty-two week high of $262.97. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. The stock’s 50-day simple moving average is $207.93 and its 200-day simple moving average is $225.41.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. During the same quarter in the previous year, the firm earned $3.09 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that Teleflex will post 13.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TFX. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Teleflex during the 3rd quarter worth approximately $265,000. Treasurer of the State of North Carolina raised its stake in shares of Teleflex by 0.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 21,892 shares of the medical technology company’s stock worth $4,300,000 after buying an additional 72 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Teleflex by 97.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 23,767 shares of the medical technology company’s stock worth $4,668,000 after buying an additional 11,743 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Teleflex by 165.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,245 shares of the medical technology company’s stock worth $441,000 after buying an additional 1,400 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Teleflex by 14.0% during the 3rd quarter. Bank of Nova Scotia now owns 4,357 shares of the medical technology company’s stock worth $856,000 after buying an additional 535 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

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.