Royce & Associates LP lessened its stake in Teleflex Incorporated (NYSE:TFX) by 5.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 39,976 shares of the medical technology company’s stock after selling 2,500 shares during the period. Royce & Associates LP’s holdings in Teleflex were worth $10,722,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hennessy Advisors Inc. bought a new position in Teleflex during the first quarter worth about $2,014,000. Montag & Caldwell LLC bought a new position in Teleflex in the first quarter valued at approximately $393,000. Inverness Counsel LLC NY bought a new position in Teleflex in the first quarter valued at approximately $31,840,000. Dean Capital Investments Management LLC bought a new position in Teleflex in the first quarter valued at approximately $230,000. Finally, Comerica Bank boosted its position in shares of Teleflex by 1.1% during the first quarter. Comerica Bank now owns 35,945 shares of the medical technology company’s stock worth $9,692,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 88.80% of the company’s stock.
TFX opened at $248.50 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 2.21. Teleflex Incorporated has a fifty-two week low of $203.70 and a fifty-two week high of $288.78. The stock has a market cap of $11.36 billion, a P/E ratio of 27.03, a PEG ratio of 1.74 and a beta of 1.20.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 2nd. The medical technology company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06. The business had revenue of $609.87 million during the quarter, compared to the consensus estimate of $615.97 million. Teleflex had a net margin of 3.78% and a return on equity of 17.32%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.04 earnings per share. equities research analysts predict that Teleflex Incorporated will post 9.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Wednesday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, August 14th. This represents a $1.36 annualized dividend and a yield of 0.55%. Teleflex’s dividend payout ratio is currently 16.19%.
Several equities research analysts recently commented on TFX shares. Morgan Stanley cut their price objective on shares of Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, August 3rd. TheStreet lowered shares of Teleflex from a “b” rating to a “c+” rating in a research note on Friday, August 3rd. Leerink Swann boosted their price objective on shares of Teleflex from $309.00 to $317.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 5th. Deutsche Bank set a $255.00 price target on shares of Teleflex and gave the company a “hold” rating in a research note on Friday, May 4th. Finally, Needham & Company LLC upped their price target on shares of Teleflex from $293.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, May 15th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Teleflex has a consensus rating of “Buy” and an average target price of $281.10.
In other Teleflex news, CFO Thomas E. Powell sold 5,200 shares of Teleflex stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $240.02, for a total transaction of $1,248,104.00. Following the completion of the sale, the chief financial officer now directly owns 15,351 shares in the company, valued at $3,684,547.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew A. Krakauer acquired 1,000 shares of the stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average price of $237.56 per share, with a total value of $237,560.00. Following the completion of the acquisition, the director now owns 1,002 shares in the company, valued at approximately $238,035.12. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 74,002 shares of company stock valued at $19,558,163. 2.56% of the stock is owned by corporate insiders.
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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