TheStreet Upgrades Teleflex to “Buy” (TFX)
Teleflex (NYSE:TFX) was upgraded by TheStreet from a “hold” rating to a “buy” rating in a research note issued on Tuesday, AnalystRatings.Net reports.
The analysts wrote, “Teleflex (TFX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann raised their price target on shares of Teleflex (NYSE:TFX) from $72.00 to $85.00 in a research note to investors on Thursday, August 22nd. Separately, analysts at Jefferies Group raised their price target on shares of Teleflex (NYSE:TFX) from $64.00 to $82.00 in a research note to investors on Thursday, August 22nd. Finally, analysts at Barclays Capital reiterated an “equal weight” rating on shares of Teleflex (NYSE:TFX) in a research note to investors on Thursday, August 15th. They now have a $85.00 price target on the stock.
Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $85.80.
Shares of Teleflex (NYSE:TFX) traded down 0.12% on Tuesday, hitting $77.75. 131,728 shares of the company’s stock traded hands. Teleflex has a 52-week low of $65.07 and a 52-week high of $87.46. The stock has a 50-day moving average of $77.83 and a 200-day moving average of $79.51. The company has a market cap of $3.197 billion and a P/E ratio of 27.08.
Teleflex (NYSE:TFX) last released its earnings data on Wednesday, July 31st. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.16 by $0.11. The company had revenue of $420.10 million for the quarter, compared to the consensus estimate of $432.18 million. During the same quarter in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts expect that Teleflex will post $4.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, August 13th.
In other Teleflex news, Director William Roland Cook sold 2,696 shares of the stock on the open market in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $77.32, for a total value of $208,454.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Teleflex Incorporated (NYSE:TFX) is a global provider of medical technology products.
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