Trading Report: Today, The Zacks Investment Research Upgraded Teleflex Inc. (TFX) to Hold

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

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

Other equities research analysts have also issued research reports about the stock. Barclays PLC boosted their price target on shares of Teleflex from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Jefferies Group boosted their price target on shares of Teleflex from $157.00 to $185.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Leerink Swann boosted their price target on shares of Teleflex from $183.00 to $190.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Finally, Stephens lowered shares of Teleflex from an “overweight” rating to an “equal weight” rating in a report on Friday, October 28th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Teleflex currently has an average rating of “Buy” and an average price target of $171.33.

Shares of Teleflex (NYSE:TFX) opened at 153.19 on Friday. The stock has a 50 day moving average of $154.04 and a 200 day moving average of $169.28. The company has a market cap of $6.75 billion, a price-to-earnings 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 issued its quarterly earnings results on Thursday, October 27th. The medical technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.78 by $0.02. The company earned $455.60 million during the quarter, compared to analyst estimates of $461.80 million. Teleflex had a net margin of 15.09% and a return on equity of 15.66%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. Equities research analysts predict that Teleflex will post $7.30 earnings per share for the current fiscal year.

The company 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 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 10th. Teleflex’s dividend payout ratio is currently 23.49%.

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Teleflex by 12.3% in the second quarter. Acadian Asset Management LLC now owns 593,042 shares of the medical technology company’s stock worth $105,153,000 after buying an additional 64,787 shares in the last quarter. Copper Rock Capital Partners LLC raised its stake in shares of Teleflex by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 228,056 shares of the medical technology company’s stock worth $40,437,000 after buying an additional 3,577 shares in the last quarter. Sunnymeath Asset Management Inc. purchased a new stake in shares of Teleflex during the second quarter worth about $1,352,000. State of Alaska Department of Revenue raised its stake in shares of Teleflex by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 4,035 shares of the medical technology company’s stock worth $715,000 after buying an additional 280 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its stake in shares of Teleflex by 25.0% in the second quarter. Leavell Investment Management Inc. now owns 5,625 shares of the medical technology company’s stock worth $997,000 after buying an additional 1,125 shares in the last quarter. 94.49% of the stock is 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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