Teleflex (NYSE:TFX) Stock Rating Lowered by Bank of America

Teleflex (NYSE:TFX) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $140.00 price objective on the medical technology company’s stock, down from their prior price objective of $235.00. Bank of America‘s price target suggests a potential upside of 3.47% from the company’s previous close.

Several other analysts have also commented on TFX. Wells Fargo & Company lowered their price objective on shares of Teleflex from $214.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Friday. Truist Financial lowered their price target on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Raymond James downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Citizens Jmp cut Teleflex from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $181.43.

Teleflex Stock Performance

TFX stock opened at $135.31 on Tuesday. The business has a 50 day moving average of $174.58 and a 200-day moving average of $203.93. The firm has a market cap of $6.28 billion, a PE ratio of 26.90, a P/E/G ratio of 1.73 and a beta of 1.16. Teleflex has a 12-month low of $128.55 and a 12-month high of $249.90. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, February 27th. The medical technology company reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. The firm had revenue of $795.40 million during the quarter, compared to the consensus estimate of $813.24 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. As a group, sell-side analysts expect that Teleflex will post 13.98 earnings per share for the current year.

Institutional Trading of Teleflex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Teleflex during the 4th quarter valued at about $100,328,000. Invesco Ltd. boosted its position in shares of Teleflex by 48.1% in the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock valued at $190,188,000 after acquiring an additional 347,003 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Teleflex during the fourth quarter valued at approximately $46,696,000. T. Rowe Price Investment Management Inc. grew its stake in Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock valued at $1,098,693,000 after acquiring an additional 261,279 shares in the last quarter. Finally, Magnetar Financial LLC increased its holdings in Teleflex by 105.2% during the 4th quarter. Magnetar Financial LLC now owns 421,340 shares of the medical technology company’s stock worth $74,990,000 after acquiring an additional 215,961 shares during the period. 95.62% of the stock is currently owned by institutional investors.

About Teleflex

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.