Raymond James Raises Teleflex (NYSE:TFX) Price Target to $420.00

Teleflex (NYSE:TFX) had its price target hoisted by analysts at Raymond James from $350.00 to $420.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a “strong-buy” rating on the medical technology company’s stock. Raymond James’ target price points to a potential upside of 16.74% from the stock’s previous close.

TFX has been the topic of a number of other reports. Needham & Company LLC increased their price target on shares of Teleflex from $325.00 to $403.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Teleflex from $345.00 to $392.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Co initiated coverage on Teleflex in a research note on Tuesday, June 11th. They set an “outperform” rating and a $345.00 price objective for the company. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Barclays increased their price objective on Teleflex from $287.00 to $309.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $358.38.

Shares of TFX traded down $1.79 during midday trading on Friday, hitting $359.78. 311,778 shares of the company traded hands, compared to its average volume of 169,021. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.41 and a current ratio of 2.27. The stock’s 50-day moving average is $334.82. The firm has a market cap of $16.02 billion, a price-to-earnings ratio of 36.34, a P/E/G ratio of 2.30 and a beta of 1.01. Teleflex has a one year low of $226.02 and a one year high of $366.79.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 1st. The medical technology company reported $2.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.59 by $0.07. The company had revenue of $652.50 million for the quarter, compared to analysts’ expectations of $637.06 million. Teleflex had a net margin of 7.50% and a return on equity of 18.62%. Teleflex’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 earnings per share. On average, equities research analysts predict that Teleflex will post 11.05 earnings per share for the current fiscal year.

In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $343.28, for a total value of $68,656.00. Following the completion of the transaction, the director now owns 936 shares in the company, valued at $321,310.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Benson Smith sold 8,500 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $294.52, for a total value of $2,503,420.00. Following the completion of the transaction, the director now owns 85,300 shares of the company’s stock, valued at approximately $25,122,556. The disclosure for this sale can be found here. Insiders sold 54,949 shares of company stock valued at $17,239,052 in the last ninety days. 2.36% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Teleflex during the fourth quarter valued at $104,380,000. Marshall Wace LLP increased its holdings in Teleflex by 2.1% in the 1st quarter. Marshall Wace LLP now owns 596,777 shares of the medical technology company’s stock worth $180,322,000 after buying an additional 12,502 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Teleflex by 5.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 3,788 shares of the medical technology company’s stock worth $1,145,000 after buying an additional 190 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Teleflex by 18.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,221 shares of the medical technology company’s stock worth $1,880,000 after buying an additional 960 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Teleflex by 8.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 421 shares of the medical technology company’s stock worth $127,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 91.46% of the company’s stock.

About Teleflex

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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Analyst Recommendations for Teleflex (NYSE:TFX)

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