Jefferies Reports TFX Sells Marine Division

Jefferies has reported on Teleflex's (NYSE: TFX) sale of its Marine division to H.I. G. Capital.

According to Jefferies, "Teleflex announces sale of Marine division to H.I.G. Capital for $121.6M total consideration. The transaction takes the company one step closer to pure- play medical status. Recent underperformance in the Medical segment and the potential for further dilutive divestitures without visibility into further offsetting strategic business development opportunities keeps us sidelined."

TFX has a Hold Rating and a $63.00 Price Target.

TFX closed at $57.23 yesterday.