Teleflex Incorporated (TFX) Downgraded by Zacks Investment Research
Teleflex Incorporated (NYSE:TFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
TFX has been the topic of a number of other research reports. Leerink Swann raised their target price on shares of Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a research report on Friday, June 9th. Barclays PLC reaffirmed a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. BidaskClub downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and set a $230.00 price target on shares of Teleflex in a report on Thursday, August 3rd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Teleflex in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $260.75.
Shares of Teleflex (TFX) traded up 0.19% on Wednesday, reaching $244.72. The company’s stock had a trading volume of 111,744 shares. The firm has a 50 day moving average of $225.61 and a 200 day moving average of $208.48. Teleflex has a 52-week low of $136.53 and a 52-week high of $246.67. The company has a market cap of $11.02 billion, a PE ratio of 46.80 and a beta of 1.07.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.13. The company had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. Analysts predict that Teleflex will post $8.28 earnings per share for the current year.
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In other news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $241.88, for a total transaction of $48,376.00. Following the transaction, the director now owns 8,080 shares in the company, valued at $1,954,390.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 600 shares of company stock valued at $132,408 in the last ninety days. Insiders own 2.39% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its holdings in 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 purchasing an additional 70 shares during the period. Advisory Services Network LLC raised its position in Teleflex by 933.8% during the 2nd quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock worth $172,000 after purchasing an additional 747 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Teleflex by 200.0% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock worth $174,000 after buying an additional 600 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Teleflex during the 2nd quarter worth about $175,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Teleflex during the 2nd quarter worth about $200,000. 89.75% of the stock is currently 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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