Insider Selling: Teleflex Incorporated (NYSE:TFX) VP Sells 700 Shares of Stock

Teleflex Incorporated (NYSE:TFX) VP Cameron P. Hicks sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $330.70, for a total transaction of $231,490.00. Following the completion of the transaction, the vice president now directly owns 7,076 shares in the company, valued at $2,340,033.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NYSE TFX opened at $334.73 on Friday. The firm has a market cap of $15.40 billion, a PE ratio of 33.81, a PEG ratio of 2.21 and a beta of 0.94. Teleflex Incorporated has a twelve month low of $226.02 and a twelve month high of $337.96. The company has a current ratio of 2.27, a quick ratio of 1.41 and a debt-to-equity ratio of 0.85.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.07. The company had revenue of $613.60 million for the quarter, compared to analysts’ expectations of $608.27 million. Teleflex had a net margin of 7.50% and a return on equity of 18.62%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $2.15 earnings per share. As a group, equities analysts anticipate that Teleflex Incorporated will post 11.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.41%. Teleflex’s dividend payout ratio is 13.74%.

A number of equities analysts have issued reports on TFX shares. Zacks Investment Research raised shares of Teleflex from a “hold” rating to a “buy” rating and set a $338.00 price objective on the stock in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $325.00 price objective (up from $300.00) on shares of Teleflex in a research note on Friday, February 22nd. Morgan Stanley raised their price objective on shares of Teleflex from $305.00 to $315.00 and gave the company an “overweight” rating in a research note on Tuesday, February 26th. Barclays set a $287.00 price objective on shares of Teleflex and gave the company a “hold” rating in a research note on Friday, February 22nd. Finally, UBS Group raised their price objective on shares of Teleflex to $350.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $330.00.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of Teleflex during the first quarter worth $26,000. Meeder Asset Management Inc. bought a new position in shares of Teleflex during the first quarter worth $31,000. Quadrant Capital Group LLC boosted its position in shares of Teleflex by 82.8% during the first quarter. Quadrant Capital Group LLC now owns 117 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 53 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Teleflex during the first quarter worth $37,000. Finally, Financial Gravity Wealth Inc. bought a new position in shares of Teleflex during the first quarter worth $52,000. 91.24% of the stock is currently owned by institutional investors.

About Teleflex

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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