Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 976 shares of the medical technology company’s stock, valued at approximately $260,000.
Several other institutional investors and hedge funds also recently made changes to their positions in TFX. Marshall Wace LLP grew its holdings in shares of Teleflex by 1,177.7% during the second quarter. Marshall Wace LLP now owns 342,631 shares of the medical technology company’s stock valued at $91,897,000 after buying an additional 315,814 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Teleflex during the second quarter valued at $60,706,000. Russell Investments Group Ltd. boosted its holdings in Teleflex by 198.4% in the third quarter. Russell Investments Group Ltd. now owns 223,450 shares of the medical technology company’s stock valued at $59,429,000 after purchasing an additional 148,559 shares during the last quarter. Orbimed Advisors LLC boosted its holdings in Teleflex by 62.7% in the second quarter. Orbimed Advisors LLC now owns 190,400 shares of the medical technology company’s stock valued at $51,067,000 after purchasing an additional 73,400 shares during the last quarter. Finally, Scout Investments Inc. boosted its holdings in Teleflex by 106.9% in the third quarter. Scout Investments Inc. now owns 132,023 shares of the medical technology company’s stock valued at $35,130,000 after purchasing an additional 68,198 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Thomas E. Powell sold 5,200 shares of the company’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $254.10, for a total transaction of $1,321,320.00. Following the completion of the transaction, the insider now owns 15,351 shares in the company, valued at approximately $3,900,689.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Benson Smith sold 9,331 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $266.73, for a total transaction of $2,488,857.63. Following the transaction, the director now owns 77,887 shares of the company’s stock, valued at approximately $20,774,799.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,329 shares of company stock worth $21,275,053. Corporate insiders own 2.56% of the company’s stock.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, November 1st. The medical technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.11. Teleflex had a net margin of 2.81% and a return on equity of 18.04%. The business had revenue of $609.70 million for the quarter, compared to analyst estimates of $609.05 million. During the same period in the prior year, the company posted $2.12 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Sell-side analysts forecast that Teleflex Incorporated will post 9.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, November 14th. Teleflex’s payout ratio is currently 16.19%.
Several research firms have commented on TFX. TheStreet raised shares of Teleflex from a “c+” rating to a “b-” rating in a report on Wednesday, November 28th. ValuEngine raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $315.00 price target on shares of Teleflex in a report on Friday, November 2nd. UBS Group began coverage on shares of Teleflex in a report on Tuesday, November 27th. They issued a “buy” rating and a $310.00 price target on the stock. Finally, Piper Jaffray Companies upped their price target on shares of Teleflex to $310.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Teleflex has an average rating of “Buy” and an average price target of $291.67.
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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