Wells Fargo & Company Issues Pessimistic Forecast for Teleflex (NYSE:TFX) Stock Price

Teleflex (NYSE:TFX) had its price target cut by investment analysts at Wells Fargo & Company from $214.00 to $146.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.30% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler restated a “neutral” rating and issued a $140.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Friday. Royal Bank of Canada lowered shares of Teleflex from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $220.00 to $155.00 in a research report on Friday. Truist Financial decreased their price objective on Teleflex from $227.00 to $200.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Raymond James lowered Teleflex from an “outperform” rating to a “market perform” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Teleflex has an average rating of “Hold” and an average price target of $196.83.

Teleflex Stock Performance

Teleflex stock traded down $7.93 during mid-day trading on Friday, reaching $131.18. The company had a trading volume of 1,341,763 shares, compared to its average volume of 629,146. The company has a 50 day moving average of $176.35 and a 200-day moving average of $205.70. Teleflex has a 52 week low of $131.35 and a 52 week 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. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.73 and a beta of 1.16.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in Teleflex by 29,127.3% in the 3rd quarter. International Assets Investment Management LLC now owns 3,215 shares of the medical technology company’s stock worth $795,000 after purchasing an additional 3,204 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Teleflex by 36.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the medical technology company’s stock valued at $1,073,000 after buying an additional 1,168 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Teleflex by 72.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,177 shares of the medical technology company’s stock valued at $786,000 after acquiring an additional 1,337 shares during the period. State of Alaska Department of Revenue boosted its holdings in Teleflex by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 5,465 shares of the medical technology company’s stock valued at $1,351,000 after acquiring an additional 370 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Teleflex by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 12,015 shares of the medical technology company’s stock worth $2,972,000 after purchasing an additional 100 shares during the period. 95.62% of the stock is 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.