Raymond James Financial Services Advisors Inc. cut its position in Teleflex Incorporated (NYSE:TFX – Get Rating) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,488 shares of the medical technology company’s stock after selling 787 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Teleflex were worth $2,120,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of TFX. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Teleflex by 2.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,231 shares of the medical technology company’s stock worth $792,000 after buying an additional 54 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Teleflex by 2.2% in the first quarter. HighTower Advisors LLC now owns 4,678 shares of the medical technology company’s stock worth $1,655,000 after buying an additional 99 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Teleflex in the first quarter worth about $455,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Teleflex by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,268 shares of the medical technology company’s stock worth $2,224,000 after buying an additional 388 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Teleflex by 2.7% in the first quarter. Yousif Capital Management LLC now owns 7,158 shares of the medical technology company’s stock worth $2,540,000 after buying an additional 190 shares during the last quarter. 93.82% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Teleflex
In related news, Director Stuart A. Randle sold 3,021 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $245.71, for a total transaction of $742,289.91. Following the completion of the sale, the director now owns 4,847 shares of the company’s stock, valued at approximately $1,190,956.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is owned by corporate insiders.
Teleflex Stock Performance
Teleflex (NYSE:TFX – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The medical technology company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.12. Teleflex had a net margin of 12.68% and a return on equity of 15.80%. The company had revenue of $710.90 million during the quarter, compared to analysts’ expectations of $687.11 million. During the same quarter in the prior year, the company earned $2.88 EPS. Teleflex’s revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Teleflex Incorporated will post 13.29 EPS for the current fiscal year.
Teleflex Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.36 annualized dividend and a yield of 0.58%. Teleflex’s dividend payout ratio is presently 17.73%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Truist Financial upped their target price on Teleflex from $250.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, April 17th. Raymond James increased their price target on Teleflex from $231.00 to $259.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. StockNews.com initiated coverage on Teleflex in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Wolfe Research downgraded Teleflex from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, April 26th. Finally, JMP Securities reiterated a “market outperform” rating and set a $330.00 price target on shares of Teleflex in a research report on Thursday, March 30th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and an average price target of $271.75.
Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.
- Get a free copy of the StockNews.com research report on Teleflex (TFX)
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