Zacks Investment Research downgraded shares of Teleflex Incorporated (NYSE:TFX) from a buy rating to a hold rating in a research note published on Thursday, August 31st.
According to Zacks, “Teleflex Inc. designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company offers its products to hospitals and healthcare providers through its direct sales force and distributors. Teleflex was founded in 1943 and is headquartered in Wayne, Pennsylvania. “
A number of other equities analysts also recently issued reports on the company. Deutsche Bank AG restated a buy rating and set a $238.00 price objective (up from $220.00) on shares of Teleflex in a research report on Wednesday, August 9th. Jefferies Group LLC reiterated a buy rating and issued a $253.00 target price (up from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. BidaskClub downgraded Teleflex from a hold rating to a sell rating in a report on Tuesday, August 8th. Needham & Company LLC reiterated a buy rating on shares of Teleflex in a report on Friday, August 4th. Finally, Barclays PLC restated a buy rating on shares of Teleflex in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $257.00.
Teleflex (TFX) traded up 0.40% on Thursday, reaching $235.23. 349,678 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $214.79 and a 200 day moving average of $204.26. The stock has a market capitalization of $10.59 billion, a PE ratio of 44.99 and a beta of 1.05. Teleflex has a 12 month low of $136.53 and a 12 month high of $236.02.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.13. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The company had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. During the same period last year, the company earned $1.89 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Teleflex will post $8.28 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were given a $0.34 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.58%. Teleflex’s dividend payout ratio is currently 26.00%.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $208.10, for a total value of $41,620.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at $1,681,448. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gretchen R. Haggerty bought 1,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was purchased at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the completion of the purchase, the director now owns 1,760 shares of the company’s stock, valued at $358,723.20. The disclosure for this purchase can be found here. In the last three months, insiders sold 600 shares of company stock worth $125,652. Insiders own 2.39% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in shares of Teleflex by 14.5% during the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 70 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Teleflex during the 1st quarter valued at $155,000. Advisory Services Network LLC raised its stake in shares of Teleflex by 933.8% during the 2nd quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after purchasing an additional 747 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Teleflex during the 2nd quarter valued at $175,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Teleflex by 200.0% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock worth $174,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 90.50% of the company’s stock.
Teleflex Company Profile
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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