Teleflex (NYSE:TFX) Given New $260.00 Price Target at Royal Bank of Canada

Teleflex (NYSE:TFX) had its price objective increased by analysts at Royal Bank of Canada from $235.00 to $260.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 9.64% from the company’s current price.

Several other research firms also recently commented on TFX. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial upped their price objective on Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Stephens upped their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $264.57.

Teleflex Stock Up 0.5 %

TFX traded up $1.18 on Friday, hitting $237.13. 745,171 shares of the company were exchanged, compared to its average volume of 373,837. Teleflex has a twelve month low of $177.63 and a twelve month high of $257.85. The company has a market cap of $11.17 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $213.52 and a two-hundred day moving average price of $221.54.

Teleflex (NYSE:TFX) last released its quarterly earnings data 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 14.78% and a net margin of 9.82%. The business had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same period in the prior year, the firm posted $3.41 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Teleflex will post 13.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Teleflex by 1.8% in the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after purchasing an additional 96,711 shares during the period. Janus Henderson Group PLC grew its stake in shares of Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after acquiring an additional 581,312 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Teleflex by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after acquiring an additional 52,533 shares in the last quarter. Cooke & Bieler LP grew its stake in shares of Teleflex by 5.7% during the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock valued at $183,256,000 after acquiring an additional 39,308 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Teleflex during the fourth quarter valued at about $118,665,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.