Teleflex Incorporated (TFX) Rating Reiterated by Barclays PLC

Teleflex Incorporated (NYSE:TFX)‘s stock had its “overweight” rating reissued by equities researchers at Barclays PLC in a note issued to investors on Tuesday. They presently have a $253.00 price objective on the medical technology company’s stock, up from their previous price objective of $230.00. Barclays PLC’s target price would indicate a potential upside of 8.13% from the stock’s previous close.

The analysts wrote, “XLRS Progressing Slowly with Some Uncertainty. Although top-line safety data from 12 patients in the Phase I/II XLRS dose escalation study did not reveal SAEs and moderate ocular inflammation was considered manageable, the combination of inter-patient and test variability has affected the ability to determine a therapeutic effect. As a result, AGTC plans to expand enrollment and follow the new patients for at least six months.””

Several other research analysts have also weighed in on TFX. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Leerink Swann lifted their price objective on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, June 9th. BidaskClub lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Teleflex in a research report on Thursday, August 3rd. Finally, Needham & Company LLC reissued a “buy” rating on shares of Teleflex in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $257.00.

Shares of Teleflex (NYSE:TFX) opened at 233.97 on Tuesday. Teleflex has a one year low of $136.53 and a one year high of $236.02. The company has a market capitalization of $10.54 billion, a P/E ratio of 44.74 and a beta of 1.05. The firm has a 50 day moving average price of $212.92 and a 200 day moving average price of $203.52.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The firm had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. During the same period in the previous year, the business earned $1.89 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Teleflex will post $8.28 EPS for the current fiscal year.

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In other news, Director Gretchen R. Haggerty bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average cost of $203.82 per share, with a total value of $203,820.00. Following the transaction, the director now directly owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $211.75, for a total value of $42,350.00. Following the completion of the sale, the director now directly owns 8,080 shares of the company’s stock, valued at $1,710,940. The disclosure for this sale can be found here. Insiders sold a total of 600 shares of company stock valued at $125,652 over the last ninety days. 2.39% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its position in Teleflex by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,708 shares of the medical technology company’s stock valued at $1,186,000 after buying an additional 28 shares in the last quarter. Stifel Financial Corp increased its position in Teleflex by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock valued at $1,121,000 after buying an additional 31 shares in the last quarter. Toronto Dominion Bank increased its position in Teleflex by 14.5% in the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after buying an additional 70 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in Teleflex by 2.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,482 shares of the medical technology company’s stock valued at $723,000 after buying an additional 90 shares in the last quarter. Finally, World Asset Management Inc increased its position in Teleflex by 3.6% in the 2nd quarter. World Asset Management Inc now owns 2,942 shares of the medical technology company’s stock valued at $611,000 after buying an additional 101 shares in the last quarter. 90.50% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Teleflex (NYSE:TFX)

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