Teleflex Incorporated (TFX) Price Target Raised to $270.00
Teleflex Incorporated (NYSE:TFX) had its price target upped by investment analysts at Jefferies Group LLC to $270.00 in a research note issued on Friday, The Fly reports. The firm presently has a “buy” rating on the medical technology company’s stock. Jefferies Group LLC’s target price indicates a potential upside of 16.00% from the company’s previous close.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a research note on Friday, June 23rd. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $274.00 in a research note on Wednesday. Leerink Swann increased their price objective on shares of Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research note on Friday, June 9th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $238.00 price objective (up previously from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $239.43.
Shares of Teleflex (TFX) traded up 2.47% during mid-day trading on Friday, reaching $232.75. 539,406 shares of the company’s stock traded hands. Teleflex has a 12-month low of $136.53 and a 12-month high of $235.18. The firm’s 50 day moving average price is $211.09 and its 200-day moving average price is $202.34. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 44.51 and a beta of 1.05.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts forecast that Teleflex will post $8.28 earnings per share for the current year.
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In related news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $211.75, for a total value of $42,350.00. Following the completion of the sale, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,710,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gretchen R. Haggerty bought 1,000 shares of Teleflex stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average cost of $203.82 per share, with a total value of $203,820.00. Following the completion of the acquisition, the director now directly owns 1,760 shares in the company, valued at approximately $358,723.20. The disclosure for this purchase can be found here. Insiders sold a total of 600 shares of company stock valued at $125,652 over the last three months. 2.39% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC increased its holdings in Teleflex by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,708 shares of the medical technology company’s stock worth $1,186,000 after acquiring an additional 28 shares in the last quarter. Stifel Financial Corp increased its holdings in Teleflex by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock worth $1,121,000 after acquiring an additional 31 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Teleflex by 0.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock worth $1,270,000 after acquiring an additional 37 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Teleflex by 0.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,560 shares of the medical technology company’s stock worth $1,271,000 after acquiring an additional 38 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Teleflex by 14.5% in the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 70 shares in the last quarter. 90.50% of the stock is owned by 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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