Eagle Asset Management Inc. cut its holdings in Teleflex Incorporated (NYSE:TFX) by 11.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,031 shares of the medical technology company’s stock after selling 2,144 shares during the period. Eagle Asset Management Inc.’s holdings in Teleflex were worth $4,342,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Redmile Group LLC raised its position in Teleflex by 449.9% in the fourth quarter. Redmile Group LLC now owns 172,486 shares of the medical technology company’s stock worth $42,918,000 after acquiring an additional 141,121 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Teleflex by 14.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 16,543 shares of the medical technology company’s stock worth $4,116,000 after acquiring an additional 2,035 shares during the period. US Bancorp DE raised its position in Teleflex by 8.4% in the fourth quarter. US Bancorp DE now owns 16,901 shares of the medical technology company’s stock worth $4,205,000 after acquiring an additional 1,311 shares during the period. Lombard Odier Asset Management Switzerland SA raised its position in Teleflex by 14.7% in the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 6,343 shares of the medical technology company’s stock worth $1,578,000 after acquiring an additional 815 shares during the period. Finally, Glenmede Trust Co. NA raised its position in Teleflex by 72.3% in the fourth quarter. Glenmede Trust Co. NA now owns 3,102 shares of the medical technology company’s stock worth $771,000 after acquiring an additional 1,302 shares during the period. Institutional investors and hedge funds own 88.98% of the company’s stock.
Several research firms have weighed in on TFX. Needham & Company LLC increased their price target 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. Deutsche Bank set a $255.00 price objective on shares of Teleflex and gave the stock a “hold” rating in a research note on Friday, May 4th. TheStreet cut shares of Teleflex from an “a-” rating to a “c+” rating in a research note on Monday, March 12th. ValuEngine cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Leerink Swann reduced their price objective on shares of Teleflex from $321.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Teleflex has a consensus rating of “Hold” and a consensus target price of $280.80.
In related news, Director Benson Smith sold 9,331 shares of the firm’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $272.98, for a total transaction of $2,547,176.38. Following the completion of the transaction, the director now directly owns 77,498 shares of the company’s stock, valued at $21,155,404.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Babich, Jr. sold 2,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $255.61, for a total transaction of $639,025.00. Following the transaction, the director now directly owns 8,886 shares of the company’s stock, valued at $2,271,350.46. The disclosure for this sale can be found here. Insiders have sold 53,183 shares of company stock valued at $13,921,838 over the last ninety days. 2.56% of the stock is currently owned by corporate insiders.
Shares of Teleflex opened at $265.91 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.18 and a quick ratio of 1.45. The firm has a market capitalization of $12.15 billion, a PE ratio of 31.66, a PEG ratio of 1.87 and a beta of 1.19. Teleflex Incorporated has a 1 year low of $195.36 and a 1 year high of $288.78.
Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, May 3rd. The medical technology company reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.21. The firm had revenue of $587.23 million during the quarter, compared to analysts’ expectations of $568.29 million. Teleflex had a net margin of 7.51% and a return on equity of 16.60%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.80 earnings per share. research analysts predict that Teleflex Incorporated will post 9.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Monday, May 14th. This represents a $1.36 annualized dividend and a yield of 0.51%. Teleflex’s payout ratio is 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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