Wells Fargo & Company Issues Positive Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price objective upped by Wells Fargo & Company from $138.00 to $167.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the medical technology company’s stock.

Several other research analysts also recently weighed in on the company. Mizuho set a $160.00 target price on Teleflex in a research note on Friday. Zacks Research cut shares of Teleflex from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Bank of America raised shares of Teleflex from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $158.00 in a report on Monday, September 28th. Weiss Ratings restated a “sell (d)” rating on shares of Teleflex in a research report on Monday, September 21st. Finally, Wall Street Zen raised shares of Teleflex from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and an average target price of $160.80.

Teleflex Price Performance

Shares of Teleflex stock traded down $1.26 on Friday, hitting $150.89. The company’s stock had a trading volume of 948,142 shares, compared to its average volume of 718,324. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.12 and a current ratio of 2.60. Teleflex has a 1 year low of $100.18 and a 1 year high of $156.67. The firm has a fifty day moving average price of $132.15 and a 200-day moving average price of $126.09. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, November 5th. The medical technology company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.73. The company had revenue of $567.80 million during the quarter, compared to analysts’ expectations of $565.52 million. Teleflex had a positive return on equity of 11.93% and a negative net margin of 39.67%. Teleflex’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 EPS. As a group, sell-side analysts anticipate that Teleflex will post 7.22 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 16th will be issued a $0.34 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Teleflex’s dividend payout ratio is presently -5.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Kelleher Financial Advisors purchased a new stake in shares of Teleflex in the second quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Teleflex in the third quarter valued at approximately $27,000. Next Level Wealth Planning LLC purchased a new position in Teleflex during the third quarter worth approximately $38,000. Heritage Family Offices LLP purchased a new position in Teleflex during the third quarter worth approximately $39,000. Finally, Allworth Financial LP purchased a new position in Teleflex during the second quarter worth approximately $44,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

More Teleflex News

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to $175 from $155 and maintained an “outperform” rating, implying about 16% upside from the cited share price. Royal Bank of Canada rating
• Positive Sentiment: Wells Fargo increased its target to $167 from $138, while keeping an “equal weight” rating. Mizuho also raised its target, to $160. Wells Fargo rating Mizuho price target
• Positive Sentiment: Adjusted third-quarter EPS of $2.63 topped analyst estimates of about $1.90. Revenue of $567.8 million also narrowly exceeded expectations. Third-quarter results and outlook
• Neutral Sentiment: Teleflex declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a yield of about 0.9%. Dividend announcement
• Negative Sentiment: Revenue grew only 0.2% year over year, and adjusted EPS fell from $3.67 a year earlier. The modest reported growth may limit enthusiasm despite the earnings beat. Third-quarter results and outlook

Teleflex Company Profile

Teleflex Incorporated is a global medical technology company that develops, manufactures and markets specialty medical devices. Its products are designed to support healthcare professionals in critical care and procedural settings, including vascular access, interventional cardiology and radiology, anesthesia, respiratory care, emergency medicine, surgical applications and urology.

The company’s portfolio includes catheters, access and closure devices, airway-management products, surgical instruments, pain-management devices and other technologies used in hospitals and outpatient facilities.