Zacks Investment Research Upgrades Teleflex Incorporated (TFX) to Buy

Zacks Investment Research upgraded shares of Teleflex Incorporated (NYSE:TFX) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $261.00 price objective on the medical technology company’s stock.

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. “

Several other analysts also recently commented on the company. Morgan Stanley raised Teleflex from an equal weight rating to an overweight rating and raised their price objective for the stock from $220.00 to $274.00 in a research note on Wednesday, September 6th. Barclays PLC reaffirmed a buy rating on shares of Teleflex in a research note on Monday, June 26th. Leerink Swann raised their price objective on Teleflex from $215.00 to $220.00 and gave the stock a market perform rating in a research note on Friday, June 9th. Needham & Company LLC raised their price objective on Teleflex from $228.00 to $237.00 and gave the stock a buy rating in a research note on Tuesday, September 5th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $238.00 price objective (up previously from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $257.00.

Teleflex (NYSE:TFX) opened at 235.23 on Tuesday. Teleflex has a one year low of $136.53 and a one year high of $236.02. The stock’s 50 day moving average price is $214.79 and its 200-day moving average price is $204.26. The stock has a market cap 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 for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13. The company had revenue of $528.60 million for 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. On average, analysts predict that Teleflex will post $8.28 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Friday, August 11th. Teleflex’s payout ratio is presently 26.00%.

In other news, Director Gretchen R. Haggerty bought 1,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was purchased at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the acquisition, the director now owns 1,760 shares in the company, valued at $358,723.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $211.75, for a total value of $42,350.00. Following the transaction, the director now owns 8,080 shares of the company’s stock, valued at approximately $1,710,940. The disclosure for this sale can be found here. In the last quarter, insiders have sold 600 shares of company stock valued at $125,652. Corporate insiders own 2.39% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its holdings in Teleflex by 0.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,708 shares of the medical technology company’s stock worth $1,186,000 after purchasing an additional 28 shares in the last quarter. Stifel Financial Corp increased its holdings in Teleflex by 0.6% during the 2nd quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock worth $1,121,000 after purchasing an additional 31 shares in the last quarter. Toronto Dominion Bank increased its holdings in 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 purchasing an additional 70 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in Teleflex by 2.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,482 shares of the medical technology company’s stock worth $723,000 after purchasing an additional 90 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in Teleflex by 3.6% during the 2nd quarter. World Asset Management Inc now owns 2,942 shares of the medical technology company’s stock worth $611,000 after purchasing an additional 101 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).

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