Teleflex’s (TFX) “Overweight” Rating Reaffirmed at Barclays PLC
Barclays PLC reissued their overweight rating on shares of Teleflex Incorporated (NYSE:TFX) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. Barclays PLC currently has a $253.00 target price on the medical technology company’s stock, up from their prior target price of $230.00.
“XLRS Progressing Slowly with Some Uncertainty. Although top-line safety data from 12 patients in the Phase I/II XLRS dose escalation study did not reveal SAEs and moderate ocular inflammation was considered manageable, the combination of inter-patient and test variability has affected the ability to determine a therapeutic effect. As a result, AGTC plans to expand enrollment and follow the new patients for at least six months.”,” Barclays PLC’s analyst commented.
Several other research firms have also recently issued reports on TFX. Zacks Investment Research cut shares of Teleflex from a buy rating to a hold rating in a report on Saturday, September 9th. Leerink Swann raised shares of Teleflex from a market perform rating to an outperform rating and upped their price target for the company from $227.00 to $266.00 in a report on Thursday, September 7th. Jefferies Group LLC upped their price target on shares of Teleflex from $253.00 to $270.00 and gave the company a buy rating in a report on Friday, September 8th. Needham & Company LLC reaffirmed a buy rating on shares of Teleflex in a report on Friday, August 4th. Finally, BidaskClub cut shares of Teleflex from a hold rating to a sell rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given 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 price target of $257.00.
Teleflex (NYSE:TFX) opened at 235.23 on Tuesday. The company has a 50 day moving average of $214.79 and a 200-day moving average of $204.26. Teleflex has a 52-week low of $136.53 and a 52-week high of $236.02. The stock has a market capitalization of $10.59 billion, a P/E ratio of 44.99 and a beta of 1.05.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.13. The firm had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. Equities research analysts anticipate that Teleflex will post $8.28 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.58%. Teleflex’s payout ratio is 26.00%.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $211.75, for a total transaction of $42,350.00. Following the completion of the sale, the director now owns 8,080 shares in the company, valued at $1,710,940. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gretchen R. Haggerty bought 1,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were acquired at an average price of $203.82 per share, with a total value of $203,820.00. Following the purchase, the director now owns 1,760 shares of the company’s stock, valued at $358,723.20. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 600 shares of company stock valued at $125,652. 2.39% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Teleflex by 5.2% during 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 purchasing an additional 186,845 shares during the last quarter. Atlanta Capital Management Co. L L C increased its stake in Teleflex by 2.6% during 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 purchasing an additional 64,985 shares during the last quarter. Janus Henderson Group PLC increased its stake in Teleflex by 50,429.2% during 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 purchasing an additional 1,812,426 shares during the last quarter. State Street Corp increased its stake in Teleflex by 1.8% during 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 purchasing an additional 25,401 shares during the last quarter. Finally, Koch Industries Inc. increased its stake in Teleflex by 47,174.3% during the second quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock valued at $955,000 after purchasing an additional 957,639 shares during the last quarter. Hedge funds and other institutional investors own 90.50% 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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