Teleflex Incorporated (TFX) Stock Rating Lowered by Zacks Investment Research
Teleflex Incorporated (NYSE:TFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.
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 analysts have also recently issued reports about the company. Needham & Company LLC boosted their price target on Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a report on Tuesday, September 5th. Deutsche Bank AG restated a “buy” rating and set a $238.00 price target (up from $220.00) on shares of Teleflex in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and set a $253.00 price target (up from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Teleflex in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Teleflex presently has a consensus rating of “Buy” and a consensus target price of $246.00.
Teleflex (NYSE TFX) opened at 232.75 on Friday. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 44.51 and a beta of 1.05. Teleflex has a 52 week low of $136.53 and a 52 week high of $235.18. The stock has a 50 day moving average of $211.66 and a 200 day moving average of $202.56.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The company had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. Equities research analysts predict that Teleflex will post $8.28 earnings per share for the current fiscal year.
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In related news, Director Stephen K. M.D. Klasko sold 200 shares of the company’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 sale, the director now directly owns 8,080 shares in the company, valued at $1,681,448. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gretchen R. Haggerty bought 1,000 shares of Teleflex stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the completion of the acquisition, the director now directly owns 1,760 shares of the company’s stock, valued at $358,723.20. The disclosure for this purchase can be found here. Insiders sold 600 shares of company stock worth $125,652 over the last quarter. 2.39% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in TFX. Toronto Dominion Bank boosted its holdings 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 worth $115,000 after buying an additional 70 shares in the last quarter. Advisory Services Network LLC boosted its holdings 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 worth $172,000 after buying an additional 747 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Teleflex by 200.0% during 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 in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Teleflex during the 2nd quarter worth approximately $175,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Teleflex during the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds 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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