Teleflex’s (TFX) “Buy” Rating Reiterated at Stephens
Teleflex Incorporated (NYSE:TFX)‘s stock had its “buy” rating reissued by equities researchers at Stephens in a research report issued on Monday. They currently have a $270.00 price target on the medical technology company’s stock, up from their prior price target of $230.00. Stephens’ price objective points to a potential upside of 11.68% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. Needham & Company LLC boosted their target price on shares of Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Leerink Swann boosted their target price on shares of Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, June 9th. KeyCorp reissued a “hold” rating on shares of Teleflex in a research report on Wednesday, September 6th. Morgan Stanley raised shares of Teleflex from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $220.00 to $274.00 in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Teleflex from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Teleflex has a consensus rating of “Buy” and an average target price of $260.75.
Shares of Teleflex (TFX) traded up 0.38% during midday trading on Monday, hitting $242.68. 301,975 shares of the stock were exchanged. The firm has a market cap of $10.93 billion, a P/E ratio of 46.41 and a beta of 1.05. The firm has a 50 day moving average of $216.57 and a 200 day moving average of $205.08. Teleflex has a 12-month low of $136.53 and a 12-month high of $243.54.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The business had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. During the same period in the previous year, the company posted $1.89 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that Teleflex will post $8.28 EPS for the current fiscal year.
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In related news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the sale, the director now directly owns 8,080 shares of the company’s stock, valued at $1,683,952.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 600 shares of company stock worth $125,652 over the last ninety days. 2.39% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TFX. Janus Henderson Group PLC raised its holdings in Teleflex by 50,429.2% in the second quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock valued at $377,296,000 after acquiring an additional 1,812,426 shares in the last quarter. Koch Industries Inc. raised its holdings in Teleflex by 47,174.3% in the second quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock valued at $955,000 after acquiring an additional 957,639 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in Teleflex by 137.4% in the second quarter. Marshall Wace North America L.P. now owns 518,462 shares of the medical technology company’s stock valued at $107,840,000 after acquiring an additional 300,069 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Teleflex by 93.5% in the second quarter. Principal Financial Group Inc. now owns 610,398 shares of the medical technology company’s stock valued at $126,816,000 after acquiring an additional 294,935 shares in the last quarter. Finally, FMR LLC raised its holdings in Teleflex by 46.5% in the first quarter. FMR LLC now owns 811,764 shares of the medical technology company’s stock valued at $157,263,000 after acquiring an additional 257,649 shares in the last quarter. 89.75% of the stock is currently owned by hedge funds and other 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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