Teleflex (NYSE:TFX) Stock Price Up 5.3% Following Strong Earnings

Teleflex Incorporated (NYSE:TFX) shares rose 5.3% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $354.23 and last traded at $347.41, approximately 524,237 shares changed hands during mid-day trading. An increase of 64% from the average daily volume of 319,444 shares. The stock had previously closed at $329.84.

The medical technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.22. The company had revenue of $648.32 million during the quarter, compared to analysts’ expectations of $643.20 million. Teleflex had a return on equity of 18.57% and a net margin of 10.78%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 EPS.

Several equities research analysts recently issued reports on TFX shares. Barclays upped their price target on Teleflex from $309.00 to $356.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. JMP Securities upped their price target on Teleflex from $325.00 to $395.00 and gave the company a “market outperform” rating in a research report on Monday, August 5th. ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Morgan Stanley upped their price target on Teleflex from $345.00 to $392.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC set a $403.00 price target on Teleflex and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $374.00.

In other Teleflex news, Director Benson Smith sold 8,500 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $340.00, for a total value of $2,890,000.00. Following the sale, the director now directly owns 57,309 shares of the company’s stock, valued at $19,485,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas E. Powell sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $355.52, for a total value of $2,666,400.00. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at $6,469,397.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,604 shares of company stock worth $16,443,419. Corporate insiders own 2.36% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Reilly Financial Advisors LLC acquired a new stake in Teleflex in the second quarter worth $25,000. Orrstown Financial Services Inc. acquired a new position in shares of Teleflex during the third quarter valued at $35,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Teleflex during the second quarter valued at $46,000. CSat Investment Advisory L.P. increased its holdings in shares of Teleflex by 97.4% during the second quarter. CSat Investment Advisory L.P. now owns 150 shares of the medical technology company’s stock valued at $50,000 after purchasing an additional 74 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Teleflex during the second quarter valued at $52,000. 90.57% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 2.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.52 and a quick ratio of 1.59. The business has a fifty day moving average price of $331.03 and a 200 day moving average price of $326.93.

About Teleflex (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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