Teleflex (NYSE:TFX) PT Raised to $275.00 at Royal Bank of Canada

by · The Cerbat Gem

Teleflex (NYSE:TFX – Get Free Report) had its target price increased by investment analysts at Royal Bank of Canada from $260.00 to $275.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 17.32% from the stock’s previous close.

TFX has been the subject of several other reports. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Truist Financial upped their price objective on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Stephens increased their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $267.71.

Check Out Our Latest Stock Analysis on TFX

Teleflex Stock Performance

TFX opened at $234.41 on Tuesday. The firm has a market cap of $11.05 billion, a P/E ratio of 37.90, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. Teleflex has a 52-week low of $177.63 and a 52-week high of $257.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The business’s fifty day moving average is $239.96 and its 200-day moving average is $222.22.

Teleflex (NYSE:TFX – Get Free Report) last released its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same period in the prior year, the firm posted $3.41 EPS. Teleflex’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts expect that Teleflex will post 13.97 EPS for the current fiscal year.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teleflex

Hedge funds have recently made changes to their positions in the stock. Riverview Trust Co bought a new position in shares of Teleflex during the first quarter worth about $31,000. Pineridge Advisors LLC acquired a new stake in Teleflex during the fourth quarter worth approximately $35,000. Canada Pension Plan Investment Board acquired a new stake in Teleflex during the second quarter worth approximately $42,000. GAMMA Investing LLC grew its stake in Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares during the period. Finally, Versant Capital Management Inc grew its stake in Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Teleflex Company Profile

(Get Free Report)

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.

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