Morgan Stanley Cuts Teleflex (NYSE:TFX) Price Target to $191.00

Teleflex (NYSE:TFX) had its price target cut by research analysts at Morgan Stanley from $275.00 to $191.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 39.97% from the company’s previous close.

Several other equities analysts also recently issued reports on TFX. Bank of America downgraded shares of Teleflex from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $235.00 to $140.00 in a report on Tuesday. Truist Financial cut their price objective on shares of Teleflex from $200.00 to $149.00 and set a “hold” rating on the stock in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Royal Bank of Canada cut Teleflex from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $220.00 to $155.00 in a research report on Friday, February 28th. Finally, Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $182.63.

Teleflex Price Performance

Shares of NYSE TFX opened at $136.46 on Wednesday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.73 and a beta of 1.16. 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 has a 1-year low of $128.55 and a 1-year high of $249.90. The business has a 50-day moving average of $173.65 and a 200-day moving average of $203.17.

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

Institutional Investors Weigh In On Teleflex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 purchasing an additional 261,279 shares during the last quarter. Janus Henderson Group PLC boosted its position in Teleflex by 2.8% in the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock valued at $1,329,704,000 after buying an additional 147,147 shares during the last quarter. State Street Corp increased its stake in shares of Teleflex by 1.0% in the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock valued at $508,757,000 after buying an additional 21,291 shares during the period. Geode Capital Management LLC raised its position in shares of Teleflex by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company’s stock worth $202,161,000 after acquiring an additional 8,307 shares during the last quarter. Finally, Cooke & Bieler LP lifted its stake in shares of Teleflex by 22.1% during the fourth quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company’s stock valued at $191,962,000 after acquiring an additional 195,150 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

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.