Teleflex Incorporated (NYSE:TFX) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
TFX has been the topic of several other reports. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $223.00 price target on the stock in a research note on Wednesday, May 24th. Barclays PLC restated a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Needham & Company LLC restated a “buy” rating and set a $224.00 price target on shares of Teleflex in a research note on Friday, May 5th. Deutsche Bank AG boosted their price target on Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Finally, Leerink Swann boosted their price target on Teleflex from $215.00 to $220.00 and gave the company a “market perform” rating in a research note on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $217.00.
Shares of Teleflex (TFX) traded down 1.37% on Monday, hitting $207.22. The stock had a trading volume of 297,192 shares. The firm’s 50-day moving average is $207.49 and its 200 day moving average is $194.74. The stock has a market cap of $9.32 billion, a P/E ratio of 43.01 and a beta of 1.06. Teleflex has a 1-year low of $136.53 and a 1-year high of $216.37.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, May 4th. The medical technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.11. Teleflex had a return on equity of 16.17% and a net margin of 11.75%. The firm had revenue of $487.90 million for the quarter, compared to analyst estimates of $472.81 million. During the same period in the previous year, the company posted $1.52 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts forecast that Teleflex will post $8.16 EPS for the current year.
In related news, Director Stuart A. Randle sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total transaction of $514,175.00. Following the sale, the director now directly owns 7,532 shares in the company, valued at approximately $1,549,106.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $208.10, for a total value of $41,620.00. Following the sale, the director now owns 8,080 shares in the company, valued at $1,681,448. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,346 shares of company stock worth $2,038,174. 2.39% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TFX. Rafferty Asset Management LLC acquired a new stake in Teleflex during the first quarter worth approximately $877,000. UBS Asset Management Americas Inc. raised its stake in Teleflex by 118.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 72,560 shares of the medical technology company’s stock worth $11,692,000 after buying an additional 39,419 shares during the period. Sit Investment Associates Inc. raised its stake in Teleflex by 180.0% in the first quarter. Sit Investment Associates Inc. now owns 2,800 shares of the medical technology company’s stock worth $542,000 after buying an additional 1,800 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Teleflex during the first quarter worth approximately $2,619,000. Finally, Pictet Asset Management Ltd. raised its stake in Teleflex by 2.0% in the first quarter. Pictet Asset Management Ltd. now owns 15,000 shares of the medical technology company’s stock worth $2,906,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 92.95% of the company’s stock.
About Teleflex
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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