Teleflex (NYSE:TFX) had its price target lifted by Morgan Stanley from $305.00 to $315.00 in a research note issued to investors on Tuesday. The firm currently has an overweight rating on the medical technology company’s stock.
Several other research analysts have also weighed in on TFX. Needham & Company LLC restated a strong-buy rating and set a $325.00 target price (up from $300.00) on shares of Teleflex in a research report on Friday, February 22nd. Barclays set a $287.00 price target on shares of Teleflex and gave the company a hold rating in a research report on Friday, February 22nd. Zacks Investment Research upgraded shares of Teleflex from a sell rating to a hold rating in a research report on Tuesday. TheStreet upgraded shares of Teleflex from a c+ rating to a b- rating in a research report on Wednesday, November 28th. Finally, UBS Group began coverage on shares of Teleflex in a research report on Tuesday, November 27th. They issued a buy rating and a $310.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $297.00.
Get Teleflex alerts:Shares of TFX opened at $289.84 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.51 and a debt-to-equity ratio of 0.82. Teleflex has a twelve month low of $226.02 and a twelve month high of $290.56. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 2.07 and a beta of 1.08.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, February 21st. The medical technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.01. Teleflex had a net margin of 8.20% and a return on equity of 18.47%. The company had revenue of $641.60 million for the quarter, compared to analyst estimates of $641.06 million. During the same period in the prior year, the business posted $2.44 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Teleflex will post 11.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.47%. Teleflex’s dividend payout ratio is presently 13.74%.
In other news, insider Thomas E. Powell sold 5,200 shares of the stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $259.41, for a total value of $1,348,932.00. Following the sale, the insider now directly owns 13,651 shares in the company, valued at $3,541,205.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas E. Powell sold 5,324 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $242.25, for a total transaction of $1,289,739.00. Following the completion of the sale, the insider now owns 13,775 shares in the company, valued at $3,336,993.75. The disclosure for this sale can be found here. Insiders sold 17,948 shares of company stock worth $4,528,433 over the last quarter. Company insiders own 2.56% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TFX. LPL Financial LLC purchased a new position in shares of Teleflex during the third quarter valued at approximately $234,000. First Citizens Bank & Trust Co. lifted its stake in shares of Teleflex by 8.3% during the fourth quarter. First Citizens Bank & Trust Co. now owns 1,734 shares of the medical technology company’s stock valued at $448,000 after buying an additional 133 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Teleflex by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 4,986 shares of the medical technology company’s stock valued at $1,287,000 after buying an additional 87 shares during the period. Bessemer Group Inc. lifted its stake in shares of Teleflex by 5,322.9% during the third quarter. Bessemer Group Inc. now owns 407,799 shares of the medical technology company’s stock valued at $108,511,000 after buying an additional 400,279 shares during the period. Finally, Cohen & Steers Inc. lifted its stake in shares of Teleflex by 79.6% during the third quarter. Cohen & Steers Inc. now owns 61,707 shares of the medical technology company’s stock valued at $16,420,000 after buying an additional 27,342 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.
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.
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