Select Equity Group L.P. decreased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,683,329 shares of the medical technology company’s stock after selling 94,476 shares during the period. Teleflex comprises 3.5% of Select Equity Group L.P.’s portfolio, making the stock its 6th biggest holding. Select Equity Group L.P. owned about 3.70% of Teleflex worth $429,215,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its position in Teleflex by 234.5% in the 1st quarter. Point72 Asset Management L.P. now owns 163,900 shares of the medical technology company’s stock valued at $41,791,000 after acquiring an additional 114,900 shares in the last quarter. Redmile Group LLC raised its holdings in shares of Teleflex by 2.4% in the 1st quarter. Redmile Group LLC now owns 176,586 shares of the medical technology company’s stock valued at $45,026,000 after purchasing an additional 4,100 shares during the period. Ostrum Asset Management bought a new stake in shares of Teleflex in the 1st quarter valued at about $829,000. The Manufacturers Life Insurance Company grew its stake in Teleflex by 98.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 149,504 shares of the medical technology company’s stock valued at $38,122,000 after buying an additional 74,231 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its stake in Teleflex by 0.8% in the 1st quarter. Rock Springs Capital Management LP now owns 92,500 shares of the medical technology company’s stock valued at $23,586,000 after buying an additional 750 shares during the last quarter. 89.54% of the stock is owned by institutional investors and hedge funds.
In related news, VP John Deren sold 1,347 shares of the firm’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $284.57, for a total value of $383,315.79. Following the completion of the transaction, the vice president now directly owns 1,419 shares of the company’s stock, valued at $403,804.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George Babich, Jr. sold 2,500 shares of Teleflex stock in a transaction on Monday, April 9th. The stock was sold at an average price of $246.87, for a total transaction of $617,175.00. Following the transaction, the director now directly owns 11,083 shares of the company’s stock, valued at $2,736,060.21. The disclosure for this sale can be found here. Insiders sold a total of 69,533 shares of company stock worth $18,678,869 in the last quarter. Company insiders own 2.56% of the company’s stock.
A number of research analysts have issued reports on TFX shares. Needham & Company LLC increased their target price on shares of Teleflex from $293.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, May 15th. TheStreet downgraded shares of Teleflex from an “a-” rating to a “c+” rating in a research note on Monday, March 12th. Deutsche Bank set a $255.00 price objective on shares of Teleflex and gave the stock a “hold” rating in a research report on Friday, May 4th. ValuEngine cut shares of Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, Goldman Sachs Group began coverage on shares of Teleflex in a report on Wednesday, April 4th. They set a “neutral” rating and a $257.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $282.50.
Shares of NYSE TFX opened at $268.21 on Friday. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 1.89 and a beta of 1.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.18 and a quick ratio of 1.45. Teleflex Incorporated has a 12 month low of $197.72 and a 12 month high of $288.78.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, May 3rd. The medical technology company reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.21. The firm had revenue of $587.23 million for the quarter, compared to the consensus estimate of $568.29 million. Teleflex had a net margin of 7.51% and a return on equity of 16.60%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 EPS. equities research analysts expect that Teleflex Incorporated will post 9.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, May 15th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, May 14th. Teleflex’s dividend payout ratio (DPR) is presently 16.19%.
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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