Today, Teleflex Inc. (TFX) Upgrade to Hold by The Zacks Investment Research

Today, Teleflex Inc. (TFX) Upgrade to Hold by 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. “

A number of other research analysts also recently weighed in on the stock. Stephens downgraded shares of Teleflex from an “overweight” rating to an “equal weight” rating in a research report on Friday, October 28th. Barclays PLC increased their target price on shares of Teleflex from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Jefferies Group increased their target price on shares of Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Finally, Leerink Swann increased their target price on shares of Teleflex from $183.00 to $190.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $171.33.

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

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

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Teleflex by 8.4% in the first quarter. Envestnet Asset Management Inc. now owns 6,684 shares of the medical technology company’s stock valued at $1,049,000 after buying an additional 519 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of 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 valued at $5,923,000 after buying an additional 1,085 shares during the last quarter. Arizona State Retirement System increased its position in shares of Teleflex by 4.3% in the first quarter. Arizona State Retirement System now owns 21,624 shares of the medical technology company’s stock valued at $3,395,000 after buying an additional 900 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Teleflex during the first quarter valued at approximately $224,000. Finally, CenturyLink Investment Management Co purchased a new position in shares of Teleflex during the second quarter valued at approximately $334,000. 94.49% of the stock is owned by institutional investors.

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 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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