Teleflex Incorporated (TFX) Lifted to Buy at Zacks Investment Research
Teleflex Incorporated (NYSE:TFX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $265.00 target price on the medical technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.79% from the company’s current price.
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 research firms have also weighed in on TFX. Deutsche Bank AG reiterated a “buy” rating and issued a $251.00 target price (up from $238.00) on shares of Teleflex in a report on Monday. Barclays PLC reiterated an “overweight” rating and issued a $253.00 target price (up from $230.00) on shares of Teleflex in a report on Tuesday, September 12th. Jefferies Group LLC boosted their target price on shares of Teleflex from $253.00 to $270.00 and gave the company a “buy” rating in a report on Friday, September 8th. Leerink Swann upgraded shares of Teleflex from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $227.00 to $266.00 in a report on Thursday, September 7th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Teleflex in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $259.43.
Shares of Teleflex (NYSE:TFX) opened at 237.06 on Friday. Teleflex has a 12 month low of $136.53 and a 12 month high of $240.93. The stock’s 50 day moving average is $216.57 and its 200 day moving average is $205.08. The stock has a market capitalization of $10.68 billion, a PE ratio of 45.34 and a beta of 1.05.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.13. The company 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%. Teleflex’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. Analysts anticipate that Teleflex will post $8.28 earnings per share for the current fiscal year.
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In related news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the sale, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,683,952.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 600 shares of company stock worth $125,652 over the last three months. Insiders own 2.39% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TFX. Janus Henderson Group PLC increased its stake in Teleflex by 50,429.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock worth $377,296,000 after buying an additional 1,812,426 shares during the period. Koch Industries Inc. increased its stake in Teleflex by 47,174.3% during the 2nd quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock worth $955,000 after buying an additional 957,639 shares during the period. Marshall Wace North America L.P. increased its stake in Teleflex by 137.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 518,462 shares of the medical technology company’s stock worth $107,840,000 after buying an additional 300,069 shares during the period. Principal Financial Group Inc. increased its stake in Teleflex by 93.5% during the 2nd quarter. Principal Financial Group Inc. now owns 610,398 shares of the medical technology company’s stock worth $126,816,000 after buying an additional 294,935 shares during the period. Finally, FMR LLC increased its stake in Teleflex by 46.5% during the 1st quarter. FMR LLC now owns 811,764 shares of the medical technology company’s stock worth $157,263,000 after buying an additional 257,649 shares during the period. 89.75% of the stock is currently owned by hedge funds and other institutional investors.
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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