Raymond James Downgrades Teleflex (NYSE:TFX) to Market Perform

Teleflex (NYSE:TFX) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Friday,Briefing.com Automated Import reports.

TFX has been the topic of several other research reports. Citizens Jmp downgraded Teleflex from an “outperform” rating to a “market perform” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Monday, December 16th. Piper Sandler reiterated a “neutral” rating and set a $140.00 price target (down previously from $255.00) on shares of Teleflex in a research report on Friday. Mizuho reduced their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Truist Financial cut their price target on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $207.00.

Teleflex Price Performance

Shares of Teleflex stock opened at $138.99 on Friday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42. The stock has a 50 day moving average price of $176.35 and a 200-day moving average price of $205.70. Teleflex has a one year low of $135.95 and a one year high of $249.90.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, February 27th. The medical technology company reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.03. The business 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%. Equities analysts expect that Teleflex will post 13.98 EPS for the current year.

Institutional Investors Weigh In On Teleflex

A number of institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in Teleflex by 4.4% in the 4th 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 in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Teleflex by 2.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,376,452 shares of the medical technology company’s stock worth $1,329,704,000 after acquiring an additional 147,147 shares in the last quarter. State Street Corp boosted its stake in shares of Teleflex by 1.0% during the 3rd quarter. State Street Corp now owns 2,057,080 shares of the medical technology company’s stock worth $508,757,000 after acquiring an additional 21,291 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Teleflex by 0.7% during the 4th 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 in the last quarter. Finally, Cooke & Bieler LP boosted its stake in shares of Teleflex by 22.1% during the 4th quarter. Cooke & Bieler LP now owns 1,078,557 shares of the medical technology company’s stock worth $191,962,000 after acquiring an additional 195,150 shares in the last quarter. Hedge funds and other institutional investors 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.