Teleflex Incorporated (TFX) Downgraded by Zacks Investment Research to Hold
Teleflex Incorporated (NYSE:TFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.
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 analysts have also recently commented on TFX. Jefferies Group LLC set a $205.00 target price on Teleflex and gave the stock a “buy” rating in a research report on Saturday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $224.00 target price on shares of Teleflex in a research report on Friday, May 5th. Barclays PLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of Teleflex in a research report on Wednesday, March 1st. Deutsche Bank AG increased their price objective on Teleflex from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. Finally, Leerink Swann increased their price objective on Teleflex from $151.00 to $177.00 and gave the stock a “market perform” rating in a research note on Monday, February 13th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $208.00.
Shares of Teleflex (NYSE:TFX) opened at 196.59 on Friday. The firm’s 50-day moving average is $198.07 and its 200 day moving average is $176.00. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 40.80 and a beta of 0.93. Teleflex has a 1-year low of $136.53 and a 1-year high of $211.22.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, May 4th. The medical technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.69 by $0.11. The firm had revenue of $487.90 million during the quarter, compared to analysts’ expectations of $472.81 million. Teleflex had a return on equity of 15.66% and a net margin of 15.09%. Teleflex’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $1.52 earnings per share. Equities analysts expect that Teleflex will post $8.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, May 11th. This represents a $1.36 annualized dividend and a yield of 0.70%. Teleflex’s dividend payout ratio is currently 23.49%.
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In other Teleflex news, VP John Deren sold 2,246 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $194.07, for a total transaction of $435,881.22. Following the completion of the transaction, the vice president now directly owns 3,989 shares in the company, valued at $774,145.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen K. M.D. Klasko sold 5,200 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $193.56, for a total value of $1,006,512.00. Following the transaction, the director now owns 12,880 shares of the company’s stock, valued at $2,493,052.80. The disclosure for this sale can be found here. Corporate insiders own 2.15% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its position in Teleflex by 118.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 72,560 shares of the medical technology company’s stock valued at $11,692,000 after buying an additional 39,419 shares in the last quarter. LMR Partners LLP bought a new position in Teleflex during the third quarter valued at about $6,913,000. Comerica Bank raised its position in Teleflex by 6.3% in the fourth quarter. Comerica Bank now owns 32,875 shares of the medical technology company’s stock valued at $5,568,000 after buying an additional 1,951 shares in the last quarter. Bessemer Group Inc. raised its position in Teleflex by 9.7% in the fourth quarter. Bessemer Group Inc. now owns 9,639 shares of the medical technology company’s stock valued at $1,553,000 after buying an additional 849 shares in the last quarter. Finally, State Street Corp raised its position in Teleflex by 14.9% in the fourth quarter. State Street Corp now owns 1,332,507 shares of the medical technology company’s stock valued at $214,718,000 after buying an additional 172,780 shares in the last quarter. Hedge funds and other 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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