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

Teleflex (NYSE:TFX) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors 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 previous price target of $220.00. Royal Bank of Canada’s target price would suggest a potential upside of 11.52% from the stock’s current price.

Several other research analysts have also recently issued reports on TFX. StockNews.com upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Mizuho cut 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. Truist Financial cut their target price on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Raymond James cut shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Teleflex presently has an average rating of “Hold” and a consensus price target of $207.00.

Teleflex Stock Down 21.8 %

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

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

Hedge Funds Weigh In On Teleflex

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFX. Headlands Technologies LLC purchased a new position in Teleflex during the fourth quarter valued at $29,000. Avior Wealth Management LLC raised its position in shares of 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 during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Teleflex in the 3rd quarter worth about $40,000. True Wealth Design LLC raised its position in shares of 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 during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Teleflex in the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

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.