Today, Teleflex Inc. (TFX) Upgrade at The Zacks Investment Research

Today, Teleflex Inc. (TFX) Upgrade at The Zacks Investment Research

Teleflex Inc. (NYSE:TFX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Teleflex Inc. designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company offers its products to hospitals and healthcare providers through its direct sales force and distributors. Teleflex was founded in 1943 and is headquartered in Wayne, Pennsylvania. “

TFX has been the subject of several other reports. Stephens cut shares of Teleflex from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 28th. Leerink Swann upped their target price on shares of Teleflex from $183.00 to $190.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Jefferies Group upped their target price on shares of Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Finally, Barclays PLC upped their target price on shares of Teleflex from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Teleflex has an average rating of “Buy” and a consensus target price of $171.33.

Shares of Teleflex (NYSE:TFX) opened at 153.19 on Friday. The company has a 50-day moving average of $154.04 and a 200 day moving average of $169.28. The company has a market capitalization of $6.75 billion, a P/E ratio of 26.46 and a beta of 0.88. Teleflex has a 12 month low of $125.28 and a 12 month high of $188.79.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 27th. The medical technology company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.02. The firm earned $455.60 million during the quarter, compared to analysts’ expectations of $461.80 million. Teleflex had a net margin of 15.09% and a return on equity of 15.66%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. Analysts forecast that Teleflex will post $7.30 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, November 10th. Teleflex’s payout ratio is 23.49%.

A number of large investors have recently modified their holdings of TFX. Envestnet Asset Management Inc. raised its stake in shares of Teleflex by 8.4% in the first quarter. Envestnet Asset Management Inc. now owns 6,684 shares of the medical technology company’s stock worth $1,049,000 after buying an additional 519 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Teleflex by 3.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 37,721 shares of the medical technology company’s stock worth $5,923,000 after buying an additional 1,085 shares during the last quarter. Arizona State Retirement System increased its position in Teleflex by 4.3% in the first quarter. Arizona State Retirement System now owns 21,624 shares of the medical technology company’s stock worth $3,395,000 after buying an additional 900 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in Teleflex during the first quarter worth about $224,000. Finally, CenturyLink Investment Management Co acquired a new position in Teleflex during the second quarter worth about $334,000. 94.49% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex Company Profile

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 markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.

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