Zacks Investment Research cut shares of Teleflex Incorporated (NYSE:TFX) from a buy rating to a hold rating in a report issued on Tuesday morning.
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. “
Other equities analysts also recently issued research reports about the company. Needham & Company LLC lifted their price target on Teleflex from $228.00 to $237.00 and gave the company a buy rating in a research note on Tuesday, September 5th. Deutsche Bank AG reiterated a buy rating and set a $238.00 price target (up previously from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a buy rating and set a $253.00 price target (up previously from $230.00) on shares of Teleflex in a research note on Wednesday, August 9th. Barclays PLC reiterated a buy rating on shares of Teleflex in a research note on Monday, June 26th. Finally, KeyCorp reiterated a hold rating on shares of Teleflex in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $259.43.
Teleflex (NYSE:TFX) opened at 241.77 on Tuesday. The firm has a market capitalization of $10.89 billion, a PE ratio of 46.24 and a beta of 1.05. Teleflex has a 12 month low of $136.53 and a 12 month high of $242.13. The company’s 50-day moving average price is $216.57 and its 200 day moving average price is $205.08.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.13. The business had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. On average, equities research analysts predict that Teleflex will post $8.28 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were paid a $0.34 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.56%. Teleflex’s payout ratio is presently 26.00%.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 8,080 shares in the company, valued at approximately $1,681,448. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 600 shares of company stock worth $125,652 in the last 90 days. Company insiders own 2.39% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of Teleflex by 14.5% in the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock worth $115,000 after buying an additional 70 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Teleflex by 933.8% in the 2nd quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock worth $172,000 after buying an additional 747 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of 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 buying an additional 600 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Teleflex in the 2nd quarter worth approximately $175,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Teleflex in the 2nd quarter worth approximately $200,000. Hedge funds and other institutional investors own 89.75% of the company’s stock.
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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