Virginia Retirement Systems ET AL lowered its stake in Teleflex Incorporated (NYSE:TFX) by 57.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,800 shares of the medical technology company’s stock after selling 10,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Teleflex were worth $1,887,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its stake in Teleflex by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,708 shares of the medical technology company’s stock valued at $1,186,000 after acquiring an additional 28 shares during the period. Stifel Financial Corp grew its stake in Teleflex by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock valued at $1,121,000 after acquiring an additional 31 shares during the period. Toronto Dominion Bank grew its stake in Teleflex by 14.5% in the 2nd quarter. Toronto Dominion Bank now owns 552 shares of the medical technology company’s stock valued at $115,000 after acquiring an additional 70 shares during the period. World Asset Management Inc grew its stake in Teleflex by 3.6% in the 2nd quarter. World Asset Management Inc now owns 2,942 shares of the medical technology company’s stock valued at $611,000 after acquiring an additional 101 shares during the period. Finally, Chartwell Investment Partners LLC grew its stake in Teleflex by 2.8% in the 2nd quarter. Chartwell Investment Partners LLC now owns 5,240 shares of the medical technology company’s stock valued at $1,089,000 after acquiring an additional 145 shares during the period. 89.31% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $241.88, for a total transaction of $48,376.00. Following the transaction, the director now owns 8,080 shares in the company, valued at approximately $1,954,390.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Benson Smith sold 2,000 shares of Teleflex stock in a transaction on Monday, December 4th. The stock was sold at an average price of $258.10, for a total value of $516,200.00. Following the transaction, the chief executive officer now owns 76,634 shares in the company, valued at approximately $19,779,235.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,600 shares of company stock worth $665,076. Insiders own 2.39% of the company’s stock.
Teleflex (NYSE:TFX) last announced its earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. Teleflex had a net margin of 12.41% and a return on equity of 16.27%. The company had revenue of $534.70 million for the quarter, compared to analysts’ expectations of $522.94 million. During the same quarter in the previous year, the company posted $1.80 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. sell-side analysts predict that Teleflex Incorporated will post 8.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.54%. Teleflex’s dividend payout ratio is presently 24.82%.
A number of research firms recently issued reports on TFX. Morgan Stanley lifted their price target on shares of Teleflex from $274.00 to $290.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Leerink Swann raised shares of Teleflex from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $227.00 to $266.00 in a research note on Thursday, September 7th. Deutsche Bank cut shares of Teleflex from a “buy” rating to a “hold” rating and set a $251.00 target price on the stock. in a research note on Tuesday, November 14th. Zacks Investment Research cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Finally, Needham & Company LLC lifted their target price on shares of Teleflex from $237.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $274.44.
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Teleflex Company Profile
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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