Tealwood Asset Management Inc. decreased its holdings in Teleflex Incorporated (NYSE:TFX) by 38.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,723 shares of the medical technology company’s stock after selling 4,239 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Teleflex were worth $2,226,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TFX. Janus Henderson Group PLC increased its stake in Teleflex by 18.5% in the 1st quarter. Janus Henderson Group PLC now owns 962,391 shares of the medical technology company’s stock valued at $290,796,000 after buying an additional 150,201 shares during the period. First Trust Advisors LP increased its stake in Teleflex by 247.5% in the 1st quarter. First Trust Advisors LP now owns 181,850 shares of the medical technology company’s stock valued at $54,948,000 after buying an additional 129,524 shares during the period. Marshall Wace North America L.P. increased its stake in Teleflex by 32.2% in the 1st quarter. Marshall Wace North America L.P. now owns 494,782 shares of the medical technology company’s stock valued at $149,502,000 after buying an additional 120,411 shares during the period. C WorldWide Group Holding A S acquired a new position in Teleflex in the 2nd quarter valued at $14,902,000. Finally, Northern Trust Corp increased its stake in Teleflex by 10.1% in the 1st quarter. Northern Trust Corp now owns 481,082 shares of the medical technology company’s stock valued at $145,364,000 after buying an additional 44,093 shares during the period. Hedge funds and other institutional investors own 90.07% of the company’s stock.
Several equities analysts have issued reports on TFX shares. Barclays boosted their price objective on shares of Teleflex from $309.00 to $356.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Co began coverage on shares of Teleflex in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $345.00 price objective on the stock. Zacks Investment Research cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Morgan Stanley upped their price target on shares of Teleflex from $345.00 to $392.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JMP Securities upped their price target on shares of Teleflex from $325.00 to $395.00 and gave the stock a “market outperform” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Teleflex has an average rating of “Buy” and a consensus target price of $367.67.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 1st. The medical technology company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.59 by $0.07. Teleflex had a net margin of 10.78% and a return on equity of 18.57%. The business had revenue of $652.50 million for the quarter, compared to analyst estimates of $637.06 million. During the same period in the previous year, the firm earned $2.47 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that Teleflex Incorporated will post 11.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.37%. Teleflex’s dividend payout ratio is presently 13.74%.
In other Teleflex news, Director Benson Smith sold 8,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $296.00, for a total value of $2,516,000.00. Following the transaction, the director now directly owns 85,300 shares in the company, valued at approximately $25,248,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $295.81, for a total transaction of $59,162.00. Following the completion of the transaction, the director now owns 936 shares in the company, valued at $276,878.16. The disclosure for this sale can be found here. Insiders sold a total of 38,453 shares of company stock worth $12,516,242 over the last quarter. Insiders own 2.36% of the company’s stock.
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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