Teleflex (TFX) Soars 4.4%: Is Further Upside Left in the Stock?
Teleflex TFX shares rallied 4.3% in the last trading session to close at $127.38. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.6% loss over the past four weeks.
Teleflex scored a strong price increase, driven by investors' optimism after BofA Securities upgraded the stock to Buy from Neutral and raised its price target to $158 from $145. The move follows the company’s appointment of Sean M. Salmon, a veteran medical technology executive, to its Board of Directors, effective Sept. 8, 2026.
This medical equipment maker is expected to post quarterly earnings of $1.92 per share in its upcoming report, which represents a year-over-year change of -47.7%. Revenues are expected to be $575.62 million, down 37% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Teleflex, the consensus EPS estimate for the quarter has been revised 4.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TFX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Teleflex is a member of the Zacks Medical - Instruments industry. One other stock in the same industry, Delcath Systems, Inc. DCTH, finished the last trading session 1.3% higher at $15.81. DCTH has returned -4.5% over the past month.
Delcath Systems' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.1. Compared to the company's year-ago EPS, this represents a change of -600%. Delcath Systems currently boasts a Zacks Rank of #1 (Strong Buy).
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This article originally published on Zacks Investment Research (zacks.com).
