Teleflex (NYSE:TFX) Price Target Lowered to $146.00 at Wells Fargo & Company

Teleflex (NYSE:TFX) had its target price reduced by analysts at Wells Fargo & Company from $214.00 to $146.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 11.30% from the stock’s previous close.

Several other analysts have also weighed in on TFX. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Mizuho reduced their price objective on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Citizens Jmp downgraded shares of Teleflex from an “outperform” rating to a “market perform” rating in a report on Thursday. Piper Sandler restated a “neutral” rating and issued a $140.00 target price (down from $255.00) on shares of Teleflex in a report on Friday. Finally, Raymond James lowered shares of Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $196.83.

Teleflex Stock Performance

Shares of NYSE TFX traded down $7.93 during midday trading on Friday, reaching $131.18. 1,341,763 shares of the company traded hands, compared to its average volume of 629,146. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.73 and a beta of 1.16. The stock has a 50-day moving average price of $176.35 and a 200 day moving average price of $205.70. Teleflex has a 52 week low of $131.35 and a 52 week high of $249.90. 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 issued its quarterly earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, topping 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 company had revenue of $795.40 million during the quarter, compared to analyst estimates of $813.24 million. Sell-side analysts anticipate that Teleflex will post 13.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in shares of Teleflex by 29,127.3% during the 3rd quarter. International Assets Investment Management LLC now owns 3,215 shares of the medical technology company’s stock worth $795,000 after buying an additional 3,204 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Teleflex by 36.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the medical technology company’s stock worth $1,073,000 after acquiring an additional 1,168 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Teleflex by 72.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,177 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 1,337 shares during the period. State of Alaska Department of Revenue grew its position in shares of Teleflex by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 5,465 shares of the medical technology company’s stock valued at $1,351,000 after purchasing an additional 370 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Teleflex by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the medical technology company’s stock valued at $2,972,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

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.