Teleflex (NYSE:TFX) Stock Rating Raised to “Buy” at Wall Street Zen

Teleflex (NYSE:TFX) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of Teleflex from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Royal Bank Of Canada raised their price target on shares of Teleflex from $155.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho set a $160.00 target price on Teleflex in a research note on Friday. Wells Fargo & Company raised their target price on shares of Teleflex from $138.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Bank of America upgraded Teleflex from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $158.00 in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.80.

Teleflex Stock Performance

Shares of TFX opened at $150.89 on Friday. The business’s fifty day simple moving average is $132.15 and its two-hundred day simple moving average is $126.09. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.94 and a beta of 0.85. The company has a current ratio of 2.60, a quick ratio of 2.12 and a debt-to-equity ratio of 0.94. Teleflex has a 12 month low of $100.18 and a 12 month high of $156.67.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, November 5th. The medical technology company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.73. The business had revenue of $567.80 million for 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%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $3.67 earnings per share. Research analysts anticipate that Teleflex will post 7.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Teleflex in the 2nd quarter valued at approximately $688,537,000. Jupiter Topco LLC purchased a new position in shares of Teleflex in the 2nd quarter worth $550,456,000. Janus Henderson Group PLC raised its position in Teleflex by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,291,311 shares of the medical technology company’s stock worth $513,281,000 after buying an additional 45,199 shares during the last quarter. Irenic Capital Management LP purchased a new stake in shares of Teleflex in the 1st quarter valued at approximately $104,061,000. Finally, Pzena Investment Management LLC acquired a new position in Teleflex in the 2nd quarter valued at about $76,462,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Key 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

About Teleflex

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.