Teleflex’s (NYSE:TFX) “Buy” Rating Reiterated at Jefferies Group LLC
Teleflex Incorporated (NYSE:TFX)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a research note issued on Wednesday. They currently have a $253.00 price target on the medical technology company’s stock, up from their previous price target of $230.00. Jefferies Group LLC’s price target points to a potential upside of 18.78% from the stock’s previous close. Jefferies Group also issued estimates for Teleflex’s Q3 2017 earnings at $1.99 EPS, FY2017 earnings at $8.22 EPS, Q1 2018 earnings at $2.12 EPS, Q2 2018 earnings at $2.39 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.70 EPS, FY2019 earnings at $10.98 EPS and FY2020 earnings at $12.39 EPS.
Other equities research analysts have also issued research reports about the stock. BidaskClub lowered shares of Teleflex from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Saturday, May 20th. Leerink Swann boosted their price target on shares of Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a report on Friday, June 9th. Needham & Company LLC reissued a “buy” rating and issued a $224.00 price target on shares of Teleflex in a report on Friday, May 5th. Finally, Deutsche Bank AG boosted their price target on shares of Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $228.00.
Teleflex (NYSE:TFX) traded down 1.06% on Wednesday, hitting $210.75. 57,814 shares of the stock were exchanged. The company’s 50 day moving average is $207.61 and its 200 day moving average is $195.00. The stock has a market cap of $9.48 billion, a PE ratio of 43.74 and a beta of 1.05. Teleflex has a 1-year low of $136.53 and a 1-year high of $216.37.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The firm had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. On average, equities research analysts expect that Teleflex will post $8.25 earnings per share for the current year.
In other news, Director Stephen K. M.D. Klasko sold 5,200 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $193.56, for a total value of $1,006,512.00. Following the sale, the director now owns 12,880 shares in the company, valued at approximately $2,493,052.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $199.93, for a total transaction of $39,986.00. Following the completion of the sale, the director now owns 8,080 shares in the company, valued at approximately $1,615,434.40. The disclosure for this sale can be found here. Insiders sold a total of 8,300 shares of company stock worth $1,643,975 in the last 90 days. 2.39% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of TFX. Marshall Wace North America L.P. raised its stake in Teleflex by 137.4% in the second quarter. Marshall Wace North America L.P. now owns 518,462 shares of the medical technology company’s stock valued at $107,840,000 after buying an additional 300,069 shares during the last quarter. Principal Financial Group Inc. raised its stake in Teleflex by 93.5% in the second quarter. Principal Financial Group Inc. now owns 610,398 shares of the medical technology company’s stock valued at $126,816,000 after buying an additional 294,935 shares during the last quarter. FMR LLC raised its stake in Teleflex by 46.5% in the first quarter. FMR LLC now owns 811,764 shares of the medical technology company’s stock valued at $157,263,000 after buying an additional 257,649 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Teleflex during the first quarter valued at about $42,368,000. Finally, Vanguard Group Inc. raised its stake in Teleflex by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,781,475 shares of the medical technology company’s stock valued at $732,584,000 after buying an additional 186,845 shares during the last quarter. Institutional investors own 93.02% 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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