Morgan Stanley Raises Teleflex (NYSE:TFX) Price Target to $392.00

Teleflex (NYSE:TFX) had its price target upped by Morgan Stanley from $345.00 to $392.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the medical technology company’s stock.

TFX has been the topic of several other reports. Barclays boosted their price objective on shares of Teleflex from $287.00 to $309.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Needham & Company LLC restated a buy rating and set a $403.00 price objective (up from $325.00) on shares of Teleflex in a research note on Friday. Wells Fargo & Co started coverage on shares of Teleflex in a research note on Tuesday, June 11th. They set an outperform rating and a $345.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Teleflex from a buy rating to a hold rating in a research note on Tuesday, May 14th. Two research 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 company presently has an average rating of Buy and an average price target of $367.67.

Shares of Teleflex stock traded down $5.86 during trading on Friday, hitting $355.49. 2,999 shares of the stock were exchanged, compared to its average volume of 201,055. The firm has a market cap of $16.68 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. The stock has a fifty day moving average of $335.63. Teleflex has a 1-year low of $226.02 and a 1-year high of $366.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.52 and a quick ratio of 1.41.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 1st. The medical technology company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.07. The company had revenue of $652.50 million for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.47 EPS. Equities research analysts expect that Teleflex will post 11.03 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, August 14th. Teleflex’s payout ratio is 13.74%.

In related news, VP Cameron P. Hicks sold 1,500 shares of Teleflex stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $298.14, for a total transaction of $447,210.00. Following the completion of the sale, the vice president now owns 6,876 shares of the company’s stock, valued at approximately $2,050,010.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Benson Smith sold 8,500 shares of Teleflex stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $294.52, for a total transaction of $2,503,420.00. Following the sale, the director now directly 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 have sold a total of 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.

A number of hedge funds and other institutional investors have recently bought and sold shares of TFX. Geode Capital Management LLC boosted its holdings in shares of Teleflex by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 410,714 shares of the medical technology company’s stock worth $106,085,000 after purchasing an additional 17,913 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Teleflex by 161.9% during the fourth quarter. Jane Street Group LLC now owns 2,187 shares of the medical technology company’s stock worth $565,000 after purchasing an additional 1,352 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Teleflex by 0.7% in the fourth quarter. Macquarie Group Ltd. now owns 22,690 shares of the medical technology company’s stock valued at $5,865,000 after acquiring an additional 165 shares during the last quarter. Norges Bank acquired a new position in Teleflex in the fourth quarter valued at $104,380,000. Finally, Conservest Capital Advisors Inc. acquired a new position in Teleflex in the first quarter valued at $206,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Teleflex (NYSE:TFX)

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