Schwab Charles Investment Management Inc. raised its position in shares of Teleflex Incorporated (NYSE:TFX) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,269 shares of the medical technology company’s stock after purchasing an additional 10,576 shares during the period. Schwab Charles Investment Management Inc. owned 0.39% of Teleflex worth $42,410,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Investors Inc. PA raised its stake in shares of Teleflex by 65.4% during the 2nd quarter. Federated Investors Inc. PA now owns 38,160 shares of the medical technology company’s stock worth $7,928,000 after purchasing an additional 15,091 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Teleflex by 25.6% during the 2nd quarter. Legal & General Group Plc now owns 85,403 shares of the medical technology company’s stock valued at $17,734,000 after acquiring an additional 17,403 shares during the last quarter. Clinton Group Inc. acquired a new position in shares of Teleflex during the 2nd quarter valued at about $325,000. Koch Industries Inc. increased its holdings in shares of Teleflex by 47,174.3% during the 2nd quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock valued at $955,000 after acquiring an additional 957,639 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Teleflex during the 3rd quarter valued at about $955,000. 89.31% of the stock is owned by institutional investors.
In other news, CEO Benson Smith sold 2,000 shares of Teleflex stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $258.10, for a total transaction of $516,200.00. Following the sale, the chief executive officer now owns 76,634 shares of the company’s stock, valued at approximately $19,779,235.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $265.32, for a total value of $53,064.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at approximately $2,143,785.60. The disclosure for this sale can be found here. Insiders sold a total of 2,600 shares of company stock worth $665,076 in the last ninety days. Insiders own 2.39% of the company’s stock.
TFX has been the topic of a number of analyst reports. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Needham & Company LLC increased their price objective on Teleflex from $228.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. KeyCorp reissued a “hold” rating on shares of Teleflex in a report on Wednesday, September 6th. Morgan Stanley raised Teleflex from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $220.00 to $274.00 in a report on Wednesday, September 6th. Finally, Leerink Swann raised Teleflex from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $227.00 to $266.00 in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $274.44.
Teleflex Incorporated (TFX) traded up $1.09 on Friday, reaching $251.19. The company’s stock had a trading volume of 306,900 shares, compared to its average volume of 261,497. The firm has a market cap of $11,266.82, a price-to-earnings ratio of 30.92, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.72 and a quick ratio of 3.70. Teleflex Incorporated has a 12-month low of $154.33 and a 12-month high of $271.23.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.11. The firm had revenue of $534.70 million for the quarter, compared to analyst estimates of $522.94 million. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 EPS. equities research analysts expect that Teleflex Incorporated will post 8.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is currently 24.82%.
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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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