First Mercantile Trust Co. lowered its position in Teleflex Incorporated (NYSE:TFX) by 14.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,343 shares of the medical technology company’s stock after selling 233 shares during the period. First Mercantile Trust Co.’s holdings in Teleflex were worth $456,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in TFX. BlackRock Inc. increased its holdings in shares of Teleflex by 6.9% in the second quarter. BlackRock Inc. now owns 4,044,235 shares of the medical technology company’s stock worth $1,339,247,000 after purchasing an additional 259,880 shares during the period. Invesco Ltd. grew its position in Teleflex by 29.3% in the second quarter. Invesco Ltd. now owns 870,117 shares of the medical technology company’s stock worth $288,139,000 after acquiring an additional 197,426 shares in the last quarter. Marshall Wace LLP grew its position in Teleflex by 26.7% in the second quarter. Marshall Wace LLP now owns 756,383 shares of the medical technology company’s stock worth $250,476,000 after acquiring an additional 159,606 shares in the last quarter. Point72 Asset Management L.P. grew its position in Teleflex by 162.8% in the second quarter. Point72 Asset Management L.P. now owns 233,638 shares of the medical technology company’s stock worth $77,369,000 after acquiring an additional 144,730 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in Teleflex by 423.7% in the second quarter. Nuveen Asset Management LLC now owns 146,358 shares of the medical technology company’s stock worth $48,466,000 after acquiring an additional 118,410 shares in the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TFX opened at $331.18 on Friday. Teleflex Incorporated has a 52-week low of $226.02 and a 52-week high of $373.90. The firm has a fifty day moving average of $331.86 and a 200 day moving average of $328.98. The firm has a market capitalization of $15.57 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.44 and a current ratio of 2.33.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.22. Teleflex had a net margin of 17.36% and a return on equity of 18.81%. The business had revenue of $648.32 million during the quarter, compared to analyst estimates of $643.20 million. During the same period in the prior year, the business posted $2.52 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Teleflex Incorporated will post 11.08 EPS for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 14th. Teleflex’s payout ratio is 13.74%.
In other Teleflex news, VP John Deren sold 2,004 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $365.06, for a total transaction of $731,580.24. Following the completion of the sale, the vice president now directly owns 3,046 shares in the company, valued at $1,111,972.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Thomas E. Powell sold 7,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $355.52, for a total transaction of $2,666,400.00. Following the sale, the chief financial officer now owns 18,197 shares of the company’s stock, valued at $6,469,397.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,085 shares of company stock valued at $25,152,672. Company insiders own 2.36% of the company’s stock.
Several brokerages recently issued reports on TFX. Raymond James cut their target price on shares of Teleflex from $420.00 to $415.00 and set a “strong-buy” rating for the company in a research report on Monday, October 7th. Barclays set a $365.00 target price on shares of Teleflex and gave the stock a “hold” rating in a research report on Friday, November 1st. Morgan Stanley upped their target price on shares of Teleflex from $345.00 to $392.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Leerink Swann set a $405.00 target price on shares of Teleflex and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, ValuEngine lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $381.30.
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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