Teleflex (NYSE:TFX) Reaches New 12-Month High at $373.90

Teleflex Incorporated (NYSE:TFX) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $373.90 and last traded at $370.59, with a volume of 111277 shares trading hands. The stock had previously closed at $369.84.

TFX has been the subject of several analyst reports. Raymond James upped their price target on shares of Teleflex from $350.00 to $420.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Wells Fargo & Co initiated coverage on shares of Teleflex in a research report on Tuesday, June 11th. They set an “outperform” rating and a $345.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $403.00 price target (up from $325.00) on shares of Teleflex in a research report on Friday, August 2nd. JMP Securities upped their price target on shares of Teleflex from $325.00 to $395.00 and gave the company a “market outperform” rating in a research report on Monday, August 5th. Finally, Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $367.67.

The company has a quick ratio of 1.59, a current ratio of 2.52 and a debt-to-equity ratio of 0.82. The firm’s 50-day simple moving average is $349.66 and its 200-day simple moving average is $310.54. The firm has a market capitalization of $17.10 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 1st. The medical technology company reported $2.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.59 by $0.07. The company had revenue of $652.50 million during the quarter, compared to analyst estimates of $637.06 million. Teleflex had a net margin of 10.78% and a return on equity of 18.57%. Teleflex’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.47 earnings per share. On average, equities research analysts forecast that Teleflex Incorporated will post 11.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.37%. Teleflex’s dividend payout ratio is currently 13.74%.

In other news, Director Benson Smith sold 8,500 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $296.00, for a total transaction of $2,516,000.00. Following the completion of the sale, the director now directly owns 85,300 shares in the company, valued at $25,248,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John Deren sold 2,004 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $365.06, for a total transaction of $731,580.24. Following the sale, the vice president now owns 3,046 shares of the company’s stock, valued at $1,111,972.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,453 shares of company stock valued at $12,516,242. 2.36% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Teleflex by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 410,714 shares of the medical technology company’s stock valued at $106,085,000 after purchasing an additional 17,913 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Teleflex in the first quarter valued at about $31,000. IFM Investors Pty Ltd increased its holdings in Teleflex by 11.8% in the first quarter. IFM Investors Pty Ltd now owns 3,021 shares of the medical technology company’s stock valued at $913,000 after purchasing an additional 318 shares during the last quarter. Eqis Capital Management Inc. bought a new stake in Teleflex in the first quarter valued at about $366,000. Finally, Financial Gravity Wealth Inc. bought a new stake in Teleflex in the first quarter valued at about $52,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

Teleflex Company Profile (NYSE:TFX)

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.

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