Wells Fargo & Company MN lessened its stake in Teleflex Incorporated (NYSE:TFX) by 94.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 310,052 shares of the medical technology company’s stock after selling 5,311,997 shares during the quarter. Wells Fargo & Company MN owned 0.69% of Teleflex worth $75,024,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of TFX. Toronto Dominion Bank increased its stake in shares of 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 purchasing an additional 70 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Teleflex by 933.8% in the 2nd quarter. Advisory Services Network LLC now owns 827 shares of the medical technology company’s stock valued at $172,000 after purchasing an additional 747 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Teleflex in the 2nd quarter valued at about $175,000. Calamos Advisors LLC purchased a new position in shares of Teleflex in the 2nd quarter valued at about $206,000. Finally, Advisor Partners LLC purchased a new position in shares of Teleflex in the 2nd quarter valued at about $212,000. 89.31% of the stock is owned by institutional investors and hedge funds.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $237.18, for a total transaction of $47,436.00. Following the completion of the sale, the director now directly owns 8,080 shares in the company, valued at approximately $1,916,414.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Benson Smith sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 76,634 shares of the company’s stock, valued at $19,779,235.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,600 shares of company stock valued at $665,076. 2.39% of the stock is owned by company insiders.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.11. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The company had revenue of $534.70 million during the quarter, compared to analyst estimates of $522.94 million. During the same period in the previous year, the business earned $1.80 EPS. Teleflex’s quarterly revenue was up 17.3% on a year-over-year basis. analysts anticipate that Teleflex Incorporated will post 8.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid 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 yield of 0.54%. Teleflex’s dividend payout ratio (DPR) is currently 24.82%.
Several equities analysts recently weighed in on the company. ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Deutsche Bank lowered Teleflex from a “buy” rating to a “hold” rating and set a $251.00 price target for the company. in a research note on Tuesday, November 14th. Piper Jaffray Companies assumed coverage on Teleflex in a research note on Friday, November 10th. They issued an “overweight” rating and a $295.00 price target for the company. Morgan Stanley lifted their price target on Teleflex from $274.00 to $290.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Finally, Jefferies Group lifted their price target on Teleflex from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target 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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