Leerink Swann upgraded shares of Teleflex Incorporated (NYSE:TFX) from a market perform rating to an outperform rating in a research note issued to investors on Thursday, September 7th, MarketBeat.com reports. They currently have $266.00 price objective on the medical technology company’s stock, up from their previous price objective of $227.00. Leerink Swann also issued estimates for Teleflex’s Q3 2017 earnings at $2.02 EPS, Q4 2017 earnings at $2.47 EPS, FY2017 earnings at $8.33 EPS, FY2018 earnings at $9.64 EPS and FY2019 earnings at $10.70 EPS.
A number of other research firms have also commented on TFX. Needham & Company LLC reissued a buy rating on shares of Teleflex in a report on Friday, August 4th. BidaskClub downgraded Teleflex from a hold rating to a sell rating in a research note on Tuesday, August 8th. Deutsche Bank AG restated a buy rating and issued a $238.00 price target (up from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. Jefferies Group LLC restated a buy rating and issued a $253.00 price target (up from $230.00) on shares of Teleflex in a research note on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Teleflex from a hold rating to a buy rating and set a $232.00 price target on the stock in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $257.00.
Teleflex (NYSE:TFX) traded up 0.40% during midday trading on Thursday, reaching $235.23. 349,678 shares of the company’s stock were exchanged. Teleflex has a 12 month low of $136.53 and a 12 month high of $236.02. The company has a 50 day moving average price of $214.79 and a 200 day moving average price of $204.26. The company has a market cap of $10.59 billion, a P/E ratio of 44.99 and a beta of 1.05.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The company had revenue of $528.60 million during the quarter, compared to analyst estimates of $518.98 million. During the same quarter last year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Teleflex will post $8.28 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.58%. Teleflex’s dividend payout ratio (DPR) is presently 26.00%.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Friday, September 1st. The stock was sold at an average price of $211.75, for a total transaction of $42,350.00. Following the transaction, the director now directly owns 8,080 shares in the company, valued at $1,710,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gretchen R. Haggerty bought 1,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the completion of the transaction, the director now directly owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The disclosure for this purchase can be found here. Insiders have sold 600 shares of company stock worth $125,652 over the last quarter. 2.39% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its position in Teleflex by 14.5% during 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Teleflex during the first quarter valued at about $155,000. Advisory Services Network LLC raised its holdings in Teleflex by 933.8% during the second quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after acquiring an additional 747 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Teleflex by 200.0% during 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 acquiring an additional 600 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Teleflex during the second quarter valued at about $175,000. 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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