Canada Pension Plan Investment Board grew its holdings in Teleflex Incorporated (NYSE:TFX) by 45.6% during the 2nd quarter, Holdings Channel reports. The firm owned 4,469 shares of the medical technology company’s stock after purchasing an additional 1,400 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Teleflex were worth $1,199,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Teleflex by 200.0% during the 2nd quarter. Parallel Advisors LLC now owns 450 shares of the medical technology company’s stock valued at $120,000 after acquiring an additional 300 shares in the last quarter. GWM Advisors LLC acquired a new stake in shares of Teleflex during the 1st quarter valued at $211,000. Dupont Capital Management Corp boosted its holdings in shares of Teleflex by 80.5% during the 2nd quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock valued at $223,000 after acquiring an additional 371 shares in the last quarter. IBM Retirement Fund acquired a new stake in shares of Teleflex during the 1st quarter valued at $253,000. Finally, Trexquant Investment LP acquired a new stake in shares of Teleflex during the 2nd quarter valued at $287,000. Institutional investors own 88.80% of the company’s stock.
Several equities research analysts recently weighed in on TFX shares. Needham & Company LLC raised their price objective on Teleflex from $293.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, May 15th. Leerink Swann raised their price objective on Teleflex from $309.00 to $317.00 and gave the company an “outperform” rating in a report on Tuesday, June 5th. ValuEngine downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Morgan Stanley cut their price objective on Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, August 3rd. Finally, TheStreet downgraded Teleflex from a “b” rating to a “c+” rating in a report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Teleflex currently has a consensus rating of “Buy” and an average price target of $281.10.
In related news, Director Andrew A. Krakauer bought 1,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average cost of $237.56 per share, with a total value of $237,560.00. Following the acquisition, the director now owns 1,002 shares of the company’s stock, valued at $238,035.12. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas E. Powell sold 5,200 shares of Teleflex stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $240.02, for a total value of $1,248,104.00. Following the transaction, the chief financial officer now directly owns 15,351 shares in the company, valued at $3,684,547.02. The disclosure for this sale can be found here. Insiders have sold a total of 79,202 shares of company stock worth $20,845,423 over the last ninety days. Company insiders own 2.56% of the company’s stock.
Shares of TFX opened at $248.15 on Friday. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 1.70 and a beta of 1.14. Teleflex Incorporated has a 12 month low of $226.63 and a 12 month high of $288.78. 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 (NYSE:TFX) last announced its earnings results on Thursday, August 2nd. The medical technology company reported $2.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.06. The firm had revenue of $609.87 million for the quarter, compared to the consensus estimate of $615.97 million. Teleflex had a return on equity of 17.32% and a net margin of 3.78%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.04 EPS. equities research analysts forecast that Teleflex Incorporated will post 9.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Wednesday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.55%. The ex-dividend date is Tuesday, August 14th. Teleflex’s payout ratio is presently 16.19%.
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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