BidaskClub Lowers Teleflex Incorporated (TFX) to Sell

Teleflex Incorporated (NYSE:TFX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 8th.

A number of other brokerages have also issued reports on TFX. Needham & Company LLC reiterated a “buy” rating on shares of Teleflex in a research report on Friday, August 4th. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a research report on Monday, June 26th. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and issued a $230.00 price objective on shares of Teleflex in a report on Thursday, August 3rd. Finally, Deutsche Bank AG upped their target price on Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $228.00.

Shares of Teleflex (NYSE TFX) traded down 0.59% during mid-day trading on Tuesday, reaching $210.66. 174,889 shares of the company’s stock traded hands. Teleflex has a one year low of $136.53 and a one year high of $217.97. The firm’s 50-day moving average is $210.06 and its 200 day moving average is $198.54. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 40.29 and a beta of 1.05.

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

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In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $199.93, for a total value of $39,986.00. Following the completion of the sale, the director now owns 8,080 shares in the company, valued at approximately $1,615,434.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gretchen R. Haggerty bought 1,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was bought at an average cost of $203.82 per share, with a total value of $203,820.00. Following the completion of the acquisition, the director now owns 1,760 shares in the company, valued at approximately $358,723.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 3,100 shares of company stock valued at $637,463. 2.39% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Teleflex by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,781,475 shares of the medical technology company’s stock valued at $732,584,000 after buying an additional 186,845 shares during the period. Atlanta Capital Management Co. L L C boosted its stake in Teleflex by 2.6% in the second quarter. Atlanta Capital Management Co. L L C now owns 2,519,464 shares of the medical technology company’s stock valued at $523,444,000 after buying an additional 64,985 shares during the period. Janus Henderson Group PLC boosted its stake in Teleflex by 50,429.2% in the second quarter. Janus Henderson Group PLC now owns 1,816,020 shares of the medical technology company’s stock valued at $377,296,000 after buying an additional 1,812,426 shares during the period. State Street Corp boosted its stake in Teleflex by 1.8% in the second quarter. State Street Corp now owns 1,399,922 shares of the medical technology company’s stock valued at $290,853,000 after buying an additional 25,401 shares during the period. Finally, Koch Industries Inc. raised its position in Teleflex by 47,174.3% in the second quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock valued at $955,000 after buying an additional 957,639 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Teleflex

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).

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