Rothschild & Co. Asset Management US Inc. lifted its stake in Teleflex Incorporated (NYSE:TFX) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,071 shares of the medical technology company’s stock after purchasing an additional 3,143 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in Teleflex were worth $22,381,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of TFX. Norges Bank purchased a new stake in shares of Teleflex in the 4th quarter worth $104,380,000. Janus Henderson Group PLC increased its stake in shares of Teleflex by 18.5% in the 1st quarter. Janus Henderson Group PLC now owns 962,391 shares of the medical technology company’s stock worth $290,796,000 after purchasing an additional 150,201 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Teleflex by 60.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 345,292 shares of the medical technology company’s stock worth $89,251,000 after purchasing an additional 129,864 shares in the last quarter. Pennsylvania Trust Co increased its stake in shares of Teleflex by 4,183.1% in the 1st quarter. Pennsylvania Trust Co now owns 114,574 shares of the medical technology company’s stock worth $4,916,000 after purchasing an additional 111,899 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Teleflex by 12.8% in the 4th quarter. Northern Trust Corp now owns 436,989 shares of the medical technology company’s stock worth $112,953,000 after purchasing an additional 49,459 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.
In other Teleflex news, Director Benson Smith sold 8,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $300.15, for a total value of $2,551,275.00. Following the completion of the sale, the director now owns 84,913 shares in the company, valued at approximately $25,486,636.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Cameron P. Hicks sold 1,500 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $298.14, for a total transaction of $447,210.00. Following the transaction, the vice president now directly owns 6,876 shares of the company’s stock, valued at approximately $2,050,010.64. The disclosure for this sale can be found here. Insiders sold a total of 46,876 shares of company stock valued at $13,885,578 in the last quarter. 2.36% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on TFX shares. Needham & Company LLC restated a “strong-buy” rating and issued a $325.00 price objective (up from $300.00) on shares of Teleflex in a research note on Friday, February 22nd. Barclays set a $287.00 price objective on Teleflex and gave the stock a “hold” rating in a research note on Friday, February 22nd. Zacks Investment Research upgraded Teleflex from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Morgan Stanley upped their price objective on Teleflex from $305.00 to $315.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 26th. Finally, UBS Group upped their price objective on Teleflex to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $326.50.
TFX stock traded up $4.11 during trading on Friday, reaching $296.04. The company’s stock had a trading volume of 72,541 shares, compared to its average volume of 397,847. Teleflex Incorporated has a 1 year low of $226.02 and a 1 year high of $309.99. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.41 and a current ratio of 2.27. The firm has a market capitalization of $13.63 billion, a PE ratio of 29.90, a PEG ratio of 1.98 and a beta of 1.01.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.07. Teleflex had a return on equity of 18.62% and a net margin of 7.50%. The business had revenue of $613.60 million during the quarter, compared to analyst estimates of $608.27 million. During the same quarter in the prior year, the business posted $2.15 EPS. Teleflex’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Teleflex Incorporated will post 11.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.46%. Teleflex’s payout ratio is presently 13.74%.
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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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