Teleflex (NYSE:TFX) Stock Gets Price Target Increase from Royal Bank Of Canada

Teleflex (NYSE:TFX) had its price target increased by equities researchers at Royal Bank Of Canada from $155.00 to $175.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 14.84% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Needham & Company LLC increased their target price on Teleflex from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Mizuho set a $160.00 target price on Teleflex in a research report on Friday. UBS Group lifted their price objective on shares of Teleflex from $145.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Bank of America upgraded shares of Teleflex from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $158.00 in a report on Monday, September 28th. Finally, Wells Fargo & Company upped their target price on shares of Teleflex from $138.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.80.

Teleflex Trading Up 0.2%

TFX stock traded up $0.23 during midday trading on Friday, reaching $152.38. The company’s stock had a trading volume of 381,853 shares, compared to its average volume of 781,989. The business’s 50-day simple moving average is $131.88 and its 200-day simple moving average is $125.84. The company has a quick ratio of 2.12, a current ratio of 2.60 and a debt-to-equity ratio of 0.94. Teleflex has a 52 week low of $100.18 and a 52 week high of $156.67. The stock has a market cap of $6.46 billion, a PE ratio of -6.54, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85.

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

Institutional Investors Weigh In On Teleflex

A number of hedge funds have recently modified their holdings of TFX. BlackRock Inc. acquired a new position in shares of Teleflex in the 2nd quarter valued at approximately $688,537,000. Jupiter Topco LLC bought a new stake in Teleflex during the 2nd quarter worth approximately $550,456,000. Irenic Capital Management LP acquired a new stake in Teleflex during the 1st quarter worth approximately $104,061,000. Pzena Investment Management LLC acquired a new stake in Teleflex during the 2nd quarter worth approximately $76,462,000. Finally, Bank of America Corp DE acquired a new stake in Teleflex during the 2nd quarter worth approximately $61,156,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Key Teleflex News

Here are the key news stories impacting Teleflex this week:

• Positive Sentiment: Adjusted third-quarter earnings were $2.63 per share, above analyst expectations of about $1.90–$1.92. Revenue of $567.8 million also narrowly exceeded estimates. Teleflex Q3 earnings surpass estimates
• Positive Sentiment: Wells Fargo raised its price target to $167 from $138 while keeping an Equal Weight rating. Mizuho also lifted its target, to $160. Higher targets may support sentiment, though neither update signals an outright bullish rating. Mizuho raises Teleflex price target
• Neutral Sentiment: Teleflex declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a yield of about 0.9%. The ex-dividend date is November 16. Teleflex declares dividend
• Negative Sentiment: Revenue grew just 0.2% year over year as reported, or 3.0% on a pro forma adjusted constant-currency basis. Adjusted EPS was below the $3.67 reported for the year-ago quarter, tempering the positive impact of the estimate beat. Teleflex Q3 financial 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.