Teleflex’s (TFX) “Buy” Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of Teleflex Incorporated (NYSE:TFX) in a report issued on Monday morning. Deutsche Bank AG currently has a $251.00 price target on the medical technology company’s stock, up from their previous price target of $238.00.
Several other equities research analysts also recently commented on the company. Morgan Stanley raised Teleflex from an equal weight rating to an overweight rating and increased their price objective for the company from $220.00 to $274.00 in a report on Wednesday, September 6th. Zacks Investment Research raised Teleflex from a hold rating to a buy rating and set a $228.00 price objective for the company in a report on Friday, June 23rd. Barclays PLC reissued a buy rating on shares of Teleflex in a report on Monday, June 26th. Needham & Company LLC increased their price objective on Teleflex from $228.00 to $237.00 and gave the company a buy rating in a report on Tuesday, September 5th. Finally, Leerink Swann raised Teleflex from a market perform rating to an outperform rating and raised their price target for the company from $227.00 to $266.00 in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $258.86.
Teleflex (TFX) opened at 239.73 on Monday. Teleflex has a 52-week low of $136.53 and a 52-week high of $240.93. The stock has a 50 day moving average of $215.63 and a 200-day moving average of $204.75. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 45.85 and a beta of 1.05.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.91 by $0.13. The company had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, analysts forecast that Teleflex will post $8.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, August 11th. Teleflex’s dividend payout ratio is 26.00%.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the 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 transaction, the director now owns 8,080 shares in the company, valued at approximately $1,681,448. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gretchen R. Haggerty acquired 1,000 shares of the 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 transaction, the director now directly owns 1,760 shares in the company, valued at $358,723.20. The disclosure for this purchase can be found here. Insiders have sold a total of 600 shares of company stock valued at $125,652 in the last ninety days. Insiders own 2.39% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TFX. First Trust Advisors LP increased its position in Teleflex by 22.9% during the 1st quarter. First Trust Advisors LP now owns 47,885 shares of the medical technology company’s stock worth $9,277,000 after buying an additional 8,914 shares during the period. DekaBank Deutsche Girozentrale increased its position in Teleflex by 39.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,455 shares of the medical technology company’s stock worth $692,000 after buying an additional 978 shares during the period. Pictet Asset Management Ltd. increased its position in Teleflex by 2.0% during the 1st quarter. Pictet Asset Management Ltd. now owns 15,000 shares of the medical technology company’s stock worth $2,906,000 after buying an additional 300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Teleflex by 5.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,949 shares of the medical technology company’s stock worth $1,152,000 after buying an additional 303 shares during the period. Finally, World Asset Management Inc increased its position in Teleflex by 6.0% during the 1st quarter. World Asset Management Inc now owns 2,841 shares of the medical technology company’s stock worth $550,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 89.75% 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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