Leerink Swann upgraded shares of Teleflex Incorporated (NYSE:TFX) from a market perform rating to an outperform rating in a report released on Thursday morning, MarketBeat reports. They currently have $266.00 price objective on the medical technology company’s stock, up from their prior 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 equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Teleflex from a hold rating to a buy rating and set a $228.00 target price on the stock in a research report on Friday, June 23rd. Barclays PLC restated a buy rating on shares of Teleflex in a research report on Monday, June 26th. Morgan Stanley upgraded Teleflex from an equal weight rating to an overweight rating and raised their target price for the company from $220.00 to $274.00 in a research report on Wednesday, September 6th. Deutsche Bank AG restated a buy rating and set a $238.00 target price (up from $220.00) on shares of Teleflex in a research report on Wednesday, August 9th. Finally, Needham & Company LLC reaffirmed a buy rating on shares of Teleflex in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $246.00.
Teleflex (NYSE TFX) opened at 232.75 on Thursday. Teleflex has a 12 month low of $136.53 and a 12 month high of $235.18. The stock has a 50 day moving average price of $211.66 and a 200 day moving average price of $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 (NYSE:TFX) last posted its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS 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 firm had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. During the same period last year, the firm earned $1.89 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Teleflex will post $8.28 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s dividend payout ratio is presently 26.00%.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the transaction, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,683,952.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen R. Haggerty purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought 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 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 worth $125,652 over the last ninety days. 2.39% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of TFX. Janus Henderson Group PLC lifted its stake in Teleflex by 50,429.2% in the 2nd quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock worth $377,296,000 after purchasing an additional 1,812,426 shares in the last quarter. Koch Industries Inc. lifted its stake in Teleflex by 47,174.3% in the 2nd quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock worth $955,000 after purchasing an additional 957,639 shares in the last quarter. Marshall Wace North America L.P. lifted its stake in Teleflex by 137.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 518,462 shares of the medical technology company’s stock worth $107,840,000 after purchasing an additional 300,069 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Teleflex by 93.5% in the 2nd quarter. Principal Financial Group Inc. now owns 610,398 shares of the medical technology company’s stock worth $126,816,000 after purchasing an additional 294,935 shares in the last quarter. Finally, FMR LLC lifted its stake in Teleflex by 46.5% in the 1st quarter. FMR LLC now owns 811,764 shares of the medical technology company’s stock worth $157,263,000 after purchasing an additional 257,649 shares in the last quarter. 90.50% 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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