Teleflex Inc. (TFX) Sets New 1-Year High at $184.01
Teleflex Inc. (NYSE:TFX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $184.01 and last traded at $181.98, with a volume of 50,117 shares. The stock had previously closed at $183.76.
Several research firms recently issued reports on TFX. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a report on Saturday, April 30th. Jefferies Group lifted their price objective on Teleflex from $157.00 to $185.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Brean Capital reiterated a “buy” rating and issued a $168.00 price objective (up from $157.00) on shares of Teleflex in a report on Thursday, April 28th. Leerink Swann lifted their price objective on Teleflex from $153.00 to $171.00 and gave the stock a “market perform” rating in a report on Monday, May 2nd. Finally, Raymond James Financial Inc. upgraded Teleflex from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, June 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $171.33.
The firm has a market cap of $8.01 billion and a PE ratio of 32.28. The company’s 50-day moving average price is $179.76 and its 200-day moving average price is $161.14.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, July 28th. The medical technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.15. The firm had revenue of $473.60 million for the quarter, compared to analysts’ expectations of $468.40 million. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.42 earnings per share. On average, equities analysts anticipate that Teleflex Inc. will post $7.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.74%.
In other Teleflex news, Director Stuart A. Randle sold 797 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $166.10, for a total value of $132,381.70. Following the completion of the transaction, the director now directly owns 4,592 shares of the company’s stock, valued at $762,731.20. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of hedge funds and institutional investors recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Teleflex by 4.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 151,282 shares of the medical technology company’s stock worth $19,887,000 after buying an additional 6,380 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Teleflex by 100.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 275,595 shares of the medical technology company’s stock worth $36,227,000 after buying an additional 137,965 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Teleflex by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 226,170 shares of the medical technology company’s stock worth $29,730,000 after buying an additional 8,228 shares during the period.
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 markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.
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