Teleflex Incorporated (TFX) Earns “Buy” Rating from Barclays PLC
Teleflex Incorporated (NYSE:TFX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays PLC in a research note issued on Monday.
The analysts wrote, “Epizyme, Inc. announced today that it has expanded its clinical collaboration with Genentech, a member of the Roche Group. Under the new agreement, Tazemetostat administered in combination with atezolizumab (Tecentriq) will be evaluated in a phase Ib/II clinical study for the treatment of patients with relapsed/refractory metastatic non-small cell lung cancer (NSCLC).””
A number of other research analysts also recently issued reports on the company. Deutsche Bank AG boosted their price objective on Teleflex from $192.00 to $213.00 and gave the company a “buy” rating in a research note on Wednesday, March 15th. Needham & Company LLC started coverage on Teleflex in a research note on Monday, March 6th. They set a “buy” rating and a $221.00 price objective for the company. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a research note on Saturday, May 20th. Jefferies Group LLC reiterated a “hold” rating on shares of Teleflex in a research note on Monday, March 27th. Finally, Leerink Swann boosted their price objective on Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a research note on Friday, June 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $217.00.
Teleflex (TFX) traded up 0.31% during mid-day trading on Monday, hitting $206.74. 36,422 shares of the stock traded hands. Teleflex has a one year low of $136.53 and a one year high of $211.21. The company has a 50 day moving average price of $200.28 and a 200-day moving average price of $184.94. The stock has a market capitalization of $9.30 billion, a PE ratio of 42.91 and a beta of 1.05.
Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, May 4th. The medical technology company reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.11. The company had revenue of $487.90 million during the quarter, compared to the consensus estimate of $472.81 million. Teleflex had a return on equity of 16.17% and a net margin of 11.75%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. Equities analysts anticipate that Teleflex will post $8.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, May 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.36 annualized dividend and a yield of 0.66%. Teleflex’s payout ratio is 28.22%.
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In other Teleflex news, Director Stephen K. M.D. Klasko sold 5,200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,880 shares in the company, valued at approximately $2,493,052.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gretchen R. Haggerty purchased 1,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $203.82 per share, with a total value of $203,820.00. Following the completion of the purchase, the director now directly owns 1,760 shares in the company, valued at $358,723.20. The disclosure for this purchase can be found here. Insiders sold a total of 10,146 shares of company stock valued at $1,996,554 over the last 90 days. 2.39% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Planning Services Ltd. acquired a new position in Teleflex during the first quarter valued at $116,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Teleflex during the first quarter valued at $155,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new position in Teleflex during the first quarter valued at $213,000. Finally, Independence Advisors LLC acquired a new position in Teleflex during the first quarter valued at $215,000. Institutional investors and hedge funds own 93.33% of the company’s stock.
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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