Teleflex Incorporated (TFX) Rating Lowered to Hold at Deutsche Bank AG
Teleflex Incorporated (NYSE:TFX) was downgraded by equities research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They presently have a $251.00 price target on the medical technology company’s stock. Deutsche Bank AG’s target price suggests a potential downside of 1.74% from the stock’s previous close.
Several other equities analysts have also weighed in on the stock. Piper Jaffray Companies began coverage on shares of Teleflex in a report on Friday, November 10th. They set an “overweight” rating and a $295.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Teleflex from $274.00 to $290.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Jefferies Group LLC upped their price objective on shares of Teleflex from $270.00 to $295.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Needham & Company LLC upped their price objective on shares of Teleflex from $237.00 to $285.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $274.44.
Shares of Teleflex (NYSE:TFX) traded down $1.11 on Tuesday, reaching $255.44. 205,000 shares of the company’s stock were exchanged, compared to its average volume of 260,328. The company has a quick ratio of 3.70, a current ratio of 4.72 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $11,557.39, a PE ratio of 31.71, a P/E/G ratio of 2.20 and a beta of 1.05. Teleflex has a twelve month low of $142.97 and a twelve month high of $263.97.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.12 EPS for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.11. Teleflex had a net margin of 12.41% and a return on equity of 16.27%. The business had revenue of $534.70 million for the quarter, compared to analysts’ expectations of $522.94 million. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. research analysts forecast that Teleflex will post 8.34 EPS 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 dated Wednesday, November 1st. The shares were sold at an average price of $237.18, for a total value of $47,436.00. Following the sale, the director now owns 8,080 shares in the company, valued at approximately $1,916,414.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 600 shares of company stock worth $138,162 in the last 90 days. 2.39% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Federated Investors Inc. PA increased its stake in Teleflex by 65.4% in the 2nd quarter. Federated Investors Inc. PA now owns 38,160 shares of the medical technology company’s stock valued at $7,928,000 after buying an additional 15,091 shares during the last quarter. Legal & General Group Plc increased its stake in Teleflex by 25.6% in the 2nd quarter. Legal & General Group Plc now owns 85,403 shares of the medical technology company’s stock valued at $17,734,000 after buying an additional 17,403 shares during the last quarter. Clinton Group Inc. purchased a new stake in Teleflex in the 2nd quarter valued at about $325,000. Creative Planning increased its stake in Teleflex by 69.5% in the 2nd quarter. Creative Planning now owns 3,828 shares of the medical technology company’s stock valued at $795,000 after buying an additional 1,569 shares during the last quarter. Finally, Koch Industries Inc. increased its stake 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 valued at $955,000 after buying an additional 957,639 shares during the last quarter. Hedge funds and other institutional investors own 90.45% 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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