Zacks Investment Research upgraded shares of Teleflex Incorporated (NYSE:TFX) from a hold rating to a buy rating in a research report sent to investors on Friday. They currently have $232.00 price target on the medical technology company’s stock.

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 brokerages also recently weighed in on TFX. Leerink Swann upped their price target on shares of Teleflex from $215.00 to $220.00 and gave the company a market perform rating in a report on Friday, June 9th. BidaskClub downgraded shares of Teleflex from a hold rating to a sell rating in a report on Tuesday, August 8th. Needham & Company LLC reissued a buy rating on shares of Teleflex in a report on Friday, August 4th. Jefferies Group LLC reissued a buy rating and issued a $253.00 price target (up from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. Finally, Deutsche Bank AG upped their price target on shares of Teleflex from $213.00 to $220.00 and gave the company a buy rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Teleflex has a consensus rating of Buy and a consensus price target of $228.67.

Shares of Teleflex (TFX) traded down 0.59% during trading on Friday, reaching $210.51. 149,928 shares of the company’s stock were exchanged. The firm has a market capitalization of $9.48 billion, a PE ratio of 40.26 and a beta of 1.05. Teleflex has a 52 week low of $136.53 and a 52 week high of $217.97. The company’s 50-day moving average price is $210.26 and its 200 day moving average price is $201.24.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The company had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. During the same period in the prior year, the company earned $1.89 EPS. Teleflex’s revenue was up 11.6% on a year-over-year basis. Analysts predict that Teleflex will post $8.28 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s dividend payout ratio is presently 26.00%.

In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $208.41, for a total transaction of $41,682.00. Following the completion of the sale, the director now directly owns 8,080 shares of the company’s stock, valued at $1,683,952.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stuart A. Randle sold 2,500 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $205.67, for a total transaction of $514,175.00. Following the sale, the director now directly owns 7,532 shares of the company’s stock, valued at $1,549,106.44. The disclosure for this sale can be found here. Insiders have sold 2,900 shares of company stock valued at $597,477 over the last ninety days. Insiders own 2.39% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Teleflex by 2.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 125,185 shares of the medical technology company’s stock worth $24,252,000 after buying an additional 2,769 shares in the last quarter. State Treasurer State of Michigan raised its stake in Teleflex by 2.8% in the first quarter. State Treasurer State of Michigan now owns 18,230 shares of the medical technology company’s stock worth $3,532,000 after buying an additional 500 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Teleflex by 8.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,657 shares of the medical technology company’s stock worth $321,000 after buying an additional 132 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Teleflex by 3.3% in the first quarter. Great West Life Assurance Co. Can now owns 34,971 shares of the medical technology company’s stock worth $6,768,000 after buying an additional 1,104 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Teleflex by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock worth $1,270,000 after buying an additional 37 shares in the last quarter. 90.49% of the stock is owned by 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 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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