Teleflex Incorporated (TFX) Cut to “Hold” at Zacks Investment Research
Teleflex Incorporated (NYSE:TFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “
A number of other equities analysts also recently weighed in on the company. Barclays PLC restated a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Morgan Stanley upgraded 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 report on Wednesday. Leerink Swann increased their price objective on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a report on Friday, June 9th. Deutsche Bank AG restated a “buy” rating and issued a $238.00 price objective (up previously from $220.00) on shares of Teleflex in a report on Wednesday, August 9th. Finally, Needham & Company LLC restated a “buy” rating on shares of Teleflex in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $246.00.
Teleflex (NYSE:TFX) opened at 232.75 on Friday. The firm’s 50-day moving average is $211.66 and its 200 day moving average is $202.56. The stock has a market capitalization of $10.48 billion, a P/E ratio of 44.51 and a beta of 1.05. Teleflex has a 12-month low of $136.53 and a 12-month high of $235.18.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The firm had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. Equities research analysts anticipate that Teleflex will post $8.28 earnings per share for the current year.
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In related news, Director Gretchen R. Haggerty acquired 1,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was purchased at an average cost of $203.82 per share, for a total transaction of $203,820.00. Following the completion of the purchase, the director now directly owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $211.75, for a total value of $42,350.00. Following the transaction, the director now owns 8,080 shares of the company’s stock, valued at $1,710,940. The disclosure for this sale can be found here. Insiders sold 600 shares of company stock valued at $125,652 over the last 90 days. 2.39% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TFX. Toronto Dominion Bank increased its stake in shares of Teleflex by 14.5% in the second 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 increased its stake in shares of Teleflex by 933.8% in the second 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. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of 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 in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Teleflex in the second quarter valued at $175,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Teleflex in the second quarter valued at $200,000. Hedge funds and other institutional investors own 90.50% 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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