Teleflex Incorporated (NYSE:TFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 have also commented on the company. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Deutsche Bank AG boosted their price objective on Teleflex from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Leerink Swann boosted their price objective on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research note on Friday, June 9th. Needham & Company LLC reiterated a “buy” rating and set a $224.00 price objective on shares of Teleflex in a research note on Friday, May 5th. Finally, BidaskClub lowered 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, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $228.83.

Teleflex (NYSE:TFX) opened at 207.58 on Thursday. The company has a market cap of $9.35 billion, a P/E ratio of 39.70 and a beta of 1.05. Teleflex has a 52 week low of $136.53 and a 52 week high of $217.97. The firm has a 50-day moving average price of $210.33 and a 200 day moving average price of $199.98.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $518.98 million. During the same period in the previous year, the business earned $1.89 EPS. Teleflex’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that Teleflex will post $8.28 EPS for the current fiscal year.

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In related news, Director Gretchen R. Haggerty bought 1,000 shares of the stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $203.82 per share, for a total transaction of $203,820.00. Following the acquisition, the director now directly owns 1,760 shares in the company, valued at approximately $358,723.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 $1,681,448. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,900 shares of company stock worth $597,477. Insiders own 2.39% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Teleflex by 14.5% in the second quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after buying an additional 70 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Teleflex during the first quarter valued at $155,000. Advisory Services Network LLC boosted its position in shares of Teleflex by 933.8% in the second quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after buying an additional 747 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of Teleflex during the second quarter valued at $175,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

About Teleflex

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).

Analyst Recommendations for Teleflex (NYSE:TFX)

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