Teleflex Incorporated (TFX) Receives Consensus Recommendation of “Buy” from Analysts

Teleflex Incorporated (NYSE:TFX) has been given a consensus rating of “Buy” by the thirteen analysts that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $282.89.

A number of equities research analysts have issued reports on the stock. TheStreet downgraded shares of Teleflex from a “b” rating to a “c+” rating in a research report on Friday, August 3rd. Morgan Stanley cut their target price on shares of Teleflex from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, August 3rd. Needham & Company LLC cut their target price on shares of Teleflex from $298.00 to $279.00 and set a “buy” rating for the company in a research report on Friday, August 3rd. ValuEngine downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Leerink Swann increased their target price on shares of Teleflex from $309.00 to $317.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 5th.

In other news, Director Benson Smith sold 9,331 shares of the firm’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $265.26, for a total transaction of $2,475,141.06. Following the transaction, the director now owns 77,887 shares in the company, valued at approximately $20,660,305.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew A. Krakauer purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were acquired at an average price of $237.56 per share, for a total transaction of $237,560.00. Following the acquisition, the director now directly owns 1,002 shares in the company, valued at approximately $238,035.12. The disclosure for this purchase can be found here. Insiders have sold a total of 70,802 shares of company stock worth $19,008,005 in the last 90 days. 2.56% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in TFX. Summit Trail Advisors LLC raised its holdings in shares of Teleflex by 23,599.0% during the 1st quarter. Summit Trail Advisors LLC now owns 1,181,159 shares of the medical technology company’s stock valued at $1,181,000 after purchasing an additional 1,176,175 shares in the last quarter. BlackRock Inc. grew its stake in Teleflex by 4.9% in the 1st quarter. BlackRock Inc. now owns 4,940,818 shares of the medical technology company’s stock valued at $1,259,811,000 after buying an additional 231,477 shares during the last quarter. Jennison Associates LLC acquired a new position in Teleflex in the 2nd quarter valued at $60,706,000. USS Investment Management Ltd grew its stake in Teleflex by 44.9% in the 1st quarter. USS Investment Management Ltd now owns 579,590 shares of the medical technology company’s stock valued at $155,310,000 after buying an additional 179,600 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Teleflex by 1,245.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 188,325 shares of the medical technology company’s stock valued at $48,019,000 after buying an additional 174,325 shares during the last quarter. Institutional investors and hedge funds own 89.56% of the company’s stock.

TFX stock opened at $231.69 on Tuesday. Teleflex has a 12-month low of $203.70 and a 12-month high of $288.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.21 and a quick ratio of 1.45. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.60 and a beta of 1.20.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 2nd. The medical technology company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06. Teleflex had a net margin of 3.78% and a return on equity of 17.32%. The company had revenue of $609.87 million during the quarter, compared to the consensus estimate of $615.97 million. During the same quarter in the prior year, the firm earned $2.04 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. research analysts expect that Teleflex will post 9.82 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Wednesday, August 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.59%. Teleflex’s dividend payout ratio is currently 16.19%.

About Teleflex

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.

Read More: Earnings Per Share (EPS)

Analyst Recommendations for Teleflex (NYSE:TFX)

Receive News & Ratings for Teleflex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply