Teleflex Incorporated (NYSE:TFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other analysts also recently commented on the stock. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $220.00 to $274.00 in a research report on Wednesday, September 6th. Barclays PLC restated a “buy” rating on shares of Teleflex in a research report on Monday, June 26th. Jefferies Group LLC boosted their price target on shares of Teleflex from $253.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Needham & Company LLC boosted their price target on shares of Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Finally, Leerink Swann upgraded shares of Teleflex from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $227.00 to $266.00 in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $258.86.
Teleflex (NYSE TFX) opened at 236.86 on Tuesday. Teleflex has a one year low of $136.53 and a one year high of $240.93. The firm has a 50-day moving average of $216.57 and a 200-day moving average of $205.08. The stock has a market capitalization of $10.67 billion, a PE ratio of 45.30 and a beta of 1.05.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The company had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. During the same period in the previous year, the firm earned $1.89 EPS. Teleflex’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Teleflex will post $8.28 earnings per share for the current year.
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In related news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $211.75, for a total value of $42,350.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at approximately $1,710,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 600 shares of company stock worth $125,652 over the last quarter. Insiders own 2.39% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its holdings in shares of Teleflex by 14.5% in 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. Archford Capital Strategies LLC raised its holdings in shares of Teleflex by 29,025.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,165 shares of the medical technology company’s stock worth $217,000 after purchasing an additional 1,161 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new stake in shares of Teleflex in the 2nd quarter worth approximately $11,813,000. Advisory Services Network LLC raised its holdings in shares of Teleflex by 933.8% in the 2nd quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock worth $172,000 after purchasing an additional 747 shares in the last quarter. Finally, Koch Industries Inc. raised its holdings in shares of 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 purchasing an additional 957,639 shares in the last quarter. Institutional investors and hedge funds own 89.75% 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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