BlackRock Inc. cut its stake in Teleflex Incorporated (NYSE:TFX) by 16.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,328,377 shares of the medical technology company’s stock after selling 878,459 shares during the period. BlackRock Inc. owned approximately 9.62% of Teleflex worth $899,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of TFX. First Trust Advisors LP grew its position in shares of Teleflex by 22.9% in the first quarter. First Trust Advisors LP now owns 47,885 shares of the medical technology company’s stock valued at $9,277,000 after purchasing an additional 8,914 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Teleflex by 39.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 3,455 shares of the medical technology company’s stock valued at $692,000 after purchasing an additional 978 shares in the last quarter. Pictet Asset Management Ltd. grew its position in shares of Teleflex by 2.0% in the first quarter. Pictet Asset Management Ltd. now owns 15,000 shares of the medical technology company’s stock valued at $2,906,000 after purchasing an additional 300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Teleflex by 5.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,949 shares of the medical technology company’s stock valued at $1,152,000 after purchasing an additional 303 shares in the last quarter. Finally, World Asset Management Inc grew its position in shares of Teleflex by 6.0% in the first quarter. World Asset Management Inc now owns 2,841 shares of the medical technology company’s stock valued at $550,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.
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In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $211.75, for a total value of $42,350.00. Following the completion of the sale, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,710,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen R. Haggerty bought 1,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was purchased at an average cost of $203.82 per share, with a total value of $203,820.00. Following the completion of the purchase, the director now directly owns 1,760 shares in the company, valued at approximately $358,723.20. The disclosure for this purchase can be found here. Insiders sold a total of 600 shares of company stock valued at $125,652 over the last ninety days. 2.39% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the company. Needham & Company LLC upped their price target on Teleflex from $228.00 to $237.00 and gave the company a “buy” rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday. Leerink Swann increased their price objective on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, June 9th. KeyCorp reiterated a “hold” rating on shares of Teleflex in a research report on Wednesday, September 6th. Finally, Morgan Stanley upgraded Teleflex from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $274.00 in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Teleflex currently has a consensus rating of “Buy” and a consensus target price of $258.86.
Teleflex Incorporated (NYSE TFX) opened at 239.73 on Tuesday. The company has a 50-day moving average price of $215.63 and a 200 day moving average price of $204.75. Teleflex Incorporated has a 12 month low of $136.53 and a 12 month high of $240.93. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of 45.85 and a beta of 1.05.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The firm had revenue of $528.60 million during the quarter, compared to analysts’ expectations of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. Teleflex’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 EPS. Equities analysts predict that Teleflex Incorporated will post $8.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a $0.34 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.57%. Teleflex’s payout ratio is currently 26.00%.
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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