Teleflex (NYSE:TFX) Earns “Buy” Rating from Needham & Company LLC

Share on StockTwits

Needham & Company LLC reissued their buy rating on shares of Teleflex (NYSE:TFX) in a research report released on Friday, Briefing.com Automated Import reports. Needham & Company LLC currently has a $403.00 price target on the medical technology company’s stock, up from their prior price target of $325.00.

A number of other research firms also recently issued reports on TFX. Barclays lifted their price objective on shares of Teleflex from $287.00 to $309.00 and gave the company an equal weight rating in a report on Monday, April 15th. Zacks Investment Research downgraded shares of Teleflex from a buy rating to a hold rating in a report on Tuesday, May 14th. Morgan Stanley lifted their price objective on shares of Teleflex from $320.00 to $345.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Co started coverage on shares of Teleflex in a report on Tuesday, June 11th. They issued an outperform rating and a $345.00 price objective on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $367.67.

NYSE TFX opened at $350.60 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.52 and a debt-to-equity ratio of 0.82. Teleflex has a 12-month low of $226.02 and a 12-month high of $366.79. The firm has a market capitalization of $16.68 billion, a P/E ratio of 35.41, a PEG ratio of 2.40 and a beta of 1.02. The firm has a 50 day simple moving average of $337.90.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 1st. The medical technology company reported $2.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.59 by $0.07. Teleflex had a net margin of 10.78% and a return on equity of 18.57%. The company had revenue of $652.50 million for the quarter, compared to the consensus estimate of $637.06 million. During the same period last year, the company earned $2.47 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Teleflex will post 11.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.39%. Teleflex’s dividend payout ratio is presently 13.74%.

In related news, VP Cameron P. Hicks sold 700 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $330.70, for a total value of $231,490.00. Following the completion of the transaction, the vice president now directly owns 7,076 shares of the company’s stock, valued at $2,340,033.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $343.28, for a total transaction of $68,656.00. Following the completion of the transaction, the director now directly owns 936 shares of the company’s stock, valued at $321,310.08. The disclosure for this sale can be found here. Insiders sold 54,949 shares of company stock valued at $17,239,052 over the last three months. 2.36% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC bought a new position in shares of Teleflex in the second quarter valued at $25,000. Quantamental Technologies LLC bought a new position in Teleflex during the first quarter worth $26,000. Meeder Asset Management Inc. bought a new position in Teleflex during the first quarter worth $31,000. Quadrant Capital Group LLC boosted its position in Teleflex by 82.8% during the first quarter. Quadrant Capital Group LLC now owns 117 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 53 shares during the period. Finally, Icon Wealth Partners LLC bought a new position in Teleflex during the first quarter worth $37,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Teleflex Company Profile

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.

See Also: Analyzing a company’s cash flow statement

Analyst Recommendations for Teleflex (NYSE:TFX)

Receive News & Ratings for Teleflex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

FTB Advisors Inc. Buys 197 Shares of Perrigo Company PLC
FTB Advisors Inc. Buys 197 Shares of Perrigo Company PLC
GVC Holdings PLC  Declares Dividend Increase – GBX 17.60 Per Share
GVC Holdings PLC Declares Dividend Increase – GBX 17.60 Per Share
IDEX Co.  Shares Bought by Farr Miller & Washington LLC DC
IDEX Co. Shares Bought by Farr Miller & Washington LLC DC
Church & Dwight Co., Inc.  Shares Bought by Farr Miller & Washington LLC DC
Church & Dwight Co., Inc. Shares Bought by Farr Miller & Washington LLC DC
Janus Henderson Group PLC Has $22.08 Million Stock Holdings in Bunge Ltd
Janus Henderson Group PLC Has $22.08 Million Stock Holdings in Bunge Ltd
Farr Miller & Washington LLC DC Boosts Stock Holdings in Comerica Incorporated
Farr Miller & Washington LLC DC Boosts Stock Holdings in Comerica Incorporated


© 2006-2019 Ticker Report