Teleflex Incorporated (TFX) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Teleflex Incorporated (NYSE:TFX) from a buy rating to a hold rating in a research note issued to investors on Thursday 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. “
Several other equities research analysts also recently issued reports on TFX. Needham & Company LLC reiterated a buy rating and issued a $224.00 target price on shares of Teleflex in a research note on Friday, May 5th. Deutsche Bank AG raised their target price on shares of Teleflex from $213.00 to $220.00 and gave the company a buy rating in a research note on Monday, May 8th. Leerink Swann raised their target price on shares of Teleflex from $215.00 to $220.00 and gave the company a market perform rating in a research note on Friday, June 9th. Barclays PLC reiterated a buy rating on shares of Teleflex in a research note on Monday, June 26th. Finally, BidaskClub downgraded shares of Teleflex from a buy rating to a hold rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Teleflex presently has a consensus rating of Buy and an average target price of $228.83.
Shares of Teleflex (NYSE TFX) opened at 207.01 on Thursday. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 39.59 and a beta of 1.05. Teleflex has a 1-year low of $136.53 and a 1-year high of $217.97. The stock has a 50 day moving average price of $210.33 and a 200-day moving average price of $199.98.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The business 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 business posted $1.89 EPS. Teleflex’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Teleflex will post $8.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is presently 26.00%.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $199.93, for a total transaction of $39,986.00. Following the completion of the sale, the director now directly owns 8,080 shares in the company, valued at $1,615,434.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stuart A. Randle sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total transaction of $514,175.00. Following the sale, the director now owns 7,532 shares of the company’s stock, valued at $1,549,106.44. The disclosure for this sale can be found here. Insiders have sold 3,100 shares of company stock valued at $637,463 over the last 90 days. Company insiders own 2.39% of the company’s stock.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Teleflex by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,781,475 shares of the medical technology company’s stock valued at $732,584,000 after buying an additional 186,845 shares during the period. Atlanta Capital Management Co. L L C increased its stake in shares of Teleflex by 2.6% in the second quarter. Atlanta Capital Management Co. L L C now owns 2,519,464 shares of the medical technology company’s stock valued at $523,444,000 after buying an additional 64,985 shares during the period. Janus Henderson Group PLC increased its stake in shares of Teleflex by 50,429.2% in the second quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock valued at $377,296,000 after buying an additional 1,812,426 shares during the period. State Street Corp increased its stake in shares of Teleflex by 1.8% in the second quarter. State Street Corp now owns 1,399,922 shares of the medical technology company’s stock valued at $290,853,000 after buying an additional 25,401 shares during the period. Finally, Koch Industries Inc. increased its stake in shares of Teleflex by 47,174.3% in the second quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock valued at $955,000 after buying an additional 957,639 shares during the period. Hedge funds and other institutional investors own 92.59% 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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