SG Americas Securities LLC raised its stake in Teleflex Incorporated (NYSE:TFX – Get Rating) by 52.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,416 shares of the medical technology company’s stock after buying an additional 834 shares during the quarter. SG Americas Securities LLC’s holdings in Teleflex were worth $857,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Teleflex by 1.6% in the fourth quarter. BlackRock Inc. now owns 4,856,339 shares of the medical technology company’s stock valued at $1,595,212,000 after buying an additional 78,713 shares during the last quarter. State Street Corp raised its stake in shares of Teleflex by 3.0% during the fourth quarter. State Street Corp now owns 1,952,123 shares of the medical technology company’s stock valued at $641,233,000 after purchasing an additional 56,290 shares in the last quarter. Atlanta Capital Management Co. L L C raised its stake in shares of Teleflex by 108.3% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,058,932 shares of the medical technology company’s stock valued at $347,838,000 after purchasing an additional 550,512 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Teleflex by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 843,568 shares of the medical technology company’s stock valued at $276,368,000 after purchasing an additional 25,891 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Teleflex by 92.1% during the fourth quarter. TD Asset Management Inc. now owns 562,248 shares of the medical technology company’s stock valued at $184,687,000 after purchasing an additional 269,579 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on TFX shares. Wolfe Research started coverage on shares of Teleflex in a research note on Tuesday, July 5th. They set an “outperform” rating and a $300.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Teleflex from $300.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America began coverage on shares of Teleflex in a research note on Monday, May 9th. They set a “neutral” rating and a $315.00 price objective on the stock. JMP Securities lowered their target price on Teleflex from $430.00 to $370.00 and set a “maintains” rating on the stock in a report on Friday. Finally, Wells Fargo & Company lowered Teleflex from an “overweight” rating to an “equal weight” rating and set a $248.00 target price on the stock. in a report on Friday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Teleflex currently has an average rating of “Moderate Buy” and an average price target of $343.33.
Teleflex Trading Down 2.1 %
Teleflex (NYSE:TFX – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The medical technology company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.05. The firm had revenue of $704.50 million for the quarter, compared to analysts’ expectations of $719.50 million. Teleflex had a return on equity of 17.24% and a net margin of 17.31%. Teleflex’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $3.35 EPS. Analysts expect that Teleflex Incorporated will post 13.94 earnings per share for the current year.
Teleflex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.36 annualized dividend and a yield of 0.57%. Teleflex’s dividend payout ratio (DPR) is presently 13.22%.
Insider Buying and Selling at Teleflex
In other Teleflex news, Director Stuart A. Randle sold 3,014 shares of Teleflex stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $283.31, for a total transaction of $853,896.34. Following the transaction, the director now owns 4,320 shares of the company’s stock, valued at approximately $1,223,899.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.28% of the company’s stock.
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 provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.
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