Teleflex Incorporated (TFX) Shares Up 0.6%
Teleflex Incorporated (NYSE:TFX) shot up 0.6% during mid-day trading on Thursday . The company traded as high as $227.92 and last traded at $226.66. 205,015 shares were traded during trading, a decline of 13% from the average session volume of 236,625 shares. The stock had previously closed at $225.41.
A number of brokerages have recently issued reports on TFX. KeyCorp reaffirmed a “hold” rating on shares of Teleflex in a research report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Teleflex in a research report on Thursday, August 3rd. BidaskClub lowered Teleflex from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, Needham & Company LLC boosted their target price on Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Teleflex has an average rating of “Buy” and a consensus price target of $230.83.
The firm’s 50-day moving average is $210.65 and its 200-day moving average is $202.16. The firm has a market cap of $10.23 billion, a PE ratio of 43.44 and a beta of 1.05.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.13. The business 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%. Teleflex’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, equities research analysts predict that Teleflex Incorporated will post $8.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s payout ratio is currently 26.00%.
In other Teleflex news, Director Gretchen R. Haggerty purchased 1,000 shares of Teleflex stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the completion of the acquisition, the director now owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex 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. Insiders have sold 600 shares of company stock valued at $125,652 in the last quarter. 2.39% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of TFX. Janney Montgomery Scott LLC grew its holdings in Teleflex by 25.5% during the first quarter. Janney Montgomery Scott LLC now owns 2,193 shares of the medical technology company’s stock worth $425,000 after purchasing an additional 445 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Teleflex during the first quarter worth about $155,000. Strs Ohio grew its holdings in Teleflex by 2,354.8% during the first quarter. Strs Ohio now owns 15,637 shares of the medical technology company’s stock worth $3,029,000 after purchasing an additional 15,000 shares during the period. DUPONT CAPITAL MANAGEMENT Corp bought a new position in Teleflex during the first quarter worth about $601,000. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in Teleflex by 14.7% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,543 shares of the medical technology company’s stock worth $686,000 after purchasing an additional 454 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.
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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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