Jefferies Group Analysts Reduce Earnings Estimates for Teleflex Incorporated (TFX)
Teleflex Incorporated (NYSE:TFX) – Equities researchers at Jefferies Group lowered their Q2 2018 earnings estimates for Teleflex in a research note issued to investors on Thursday. Jefferies Group analyst R. Denhoy now anticipates that the medical technology company will earn $2.31 per share for the quarter, down from their previous forecast of $2.33. Jefferies Group currently has a “Buy” rating and a $295.00 target price on the stock. Jefferies Group also issued estimates for Teleflex’s Q4 2018 earnings at $2.87 EPS.
TFX has been the topic of several other reports. Morgan Stanley lifted their target price on shares of Teleflex from $274.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Friday. Leerink Swann raised shares of Teleflex from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $227.00 to $266.00 in a research note on Thursday, September 7th. Zacks Investment Research downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Needham & Company LLC lifted their target price on shares of Teleflex from $237.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Teleflex in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Teleflex currently has an average rating of “Buy” and a consensus target price of $271.88.
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Teleflex (NYSE:TFX) traded down $0.34 during mid-day trading on Monday, hitting $256.08. 34,285 shares of the company’s stock traded hands, compared to its average volume of 232,739. The stock has a market capitalization of $11,551.08, a PE ratio of 31.69, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.72 and a quick ratio of 3.70.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. The firm had revenue of $534.70 million for the quarter, compared to the consensus estimate of $522.94 million. Teleflex had a net margin of 12.41% and a return on equity of 16.27%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share.
Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in shares of Teleflex by 14.5% during the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after buying an additional 70 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Teleflex by 933.8% during the 2nd quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after buying an additional 747 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Teleflex during the 2nd quarter valued at $175,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Teleflex during the 2nd quarter valued at $200,000. Finally, Calamos Advisors LLC bought a new stake in shares of Teleflex during the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 89.79% of the company’s stock.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $241.88, for a total value of $48,376.00. Following the sale, the director now owns 8,080 shares in the company, valued at $1,954,390.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 600 shares of company stock worth $138,162. 2.39% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is currently 24.82%.
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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