Teleflex Incorporated (NYSE:TFX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $261.00 target price on the medical technology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.55% from the company’s previous close.

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 have also issued research reports about the stock. Needham & Company LLC lifted their target price on shares of Teleflex from $228.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Leerink Swann lifted their target price on shares of Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a report on Friday, June 9th. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $220.00 to $274.00 in a report on Wednesday, September 6th. KeyCorp restated a “hold” rating on shares of Teleflex in a report on Wednesday, September 6th. Finally, Jefferies Group LLC restated a “buy” rating and set a $253.00 target price (up previously from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $257.00.

Shares of Teleflex (TFX) opened at 233.97 on Tuesday. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 44.74 and a beta of 1.05. The stock’s 50 day moving average price is $212.92 and its 200-day moving average price is $203.52. Teleflex has a 52-week low of $136.53 and a 52-week high of $236.02.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 EPS. On average, analysts predict that Teleflex will post $8.28 earnings per share for the current fiscal year.

WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/14/zacks-investment-research-upgrades-teleflex-incorporated-tfx-to-buy.html.

In other news, Director Gretchen R. Haggerty acquired 1,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were purchased at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the acquisition, the director now directly owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $41,620.00. Following the completion of the transaction, the director now owns 8,080 shares in the company, valued at approximately $1,681,448. The disclosure for this sale can be found here. Insiders sold a total of 600 shares of company stock worth $125,652 in the last quarter. 2.39% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Teleflex by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 3,781,475 shares of the medical technology company’s stock worth $732,584,000 after buying an additional 186,845 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its holdings in Teleflex by 2.6% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,519,464 shares of the medical technology company’s stock worth $523,444,000 after buying an additional 64,985 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Teleflex by 50,429.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock worth $377,296,000 after buying an additional 1,812,426 shares in the last quarter. State Street Corp lifted its holdings in Teleflex by 1.8% in the 2nd quarter. State Street Corp now owns 1,399,922 shares of the medical technology company’s stock worth $290,853,000 after buying an additional 25,401 shares in the last quarter. Finally, Koch Industries Inc. lifted its holdings in Teleflex by 47,174.3% in the 2nd quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock worth $955,000 after buying an additional 957,639 shares in the last quarter. Hedge funds and other 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).

Analyst Recommendations for Teleflex (NYSE:TFX)

Receive News & Stock Ratings for Teleflex Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex Incorporated and related stocks with our FREE daily email newsletter.