Tealwood Asset Management Inc. decreased its position in Teleflex Incorporated (NYSE:TFX) by 38.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,723 shares of the medical technology company’s stock after selling 4,239 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Teleflex were worth $2,226,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Janus Henderson Group PLC grew its position in Teleflex by 18.5% in the first quarter. Janus Henderson Group PLC now owns 962,391 shares of the medical technology company’s stock valued at $290,796,000 after acquiring an additional 150,201 shares in the last quarter. Marshall Wace LLP grew its position in shares of Teleflex by 2.1% during the first quarter. Marshall Wace LLP now owns 596,777 shares of the medical technology company’s stock worth $180,322,000 after buying an additional 12,502 shares in the last quarter. Parnassus Investments CA grew its position in shares of Teleflex by 2.2% during the first quarter. Parnassus Investments CA now owns 504,567 shares of the medical technology company’s stock worth $152,460,000 after buying an additional 11,033 shares in the last quarter. Marshall Wace North America L.P. grew its position in shares of Teleflex by 32.2% during the first quarter. Marshall Wace North America L.P. now owns 494,782 shares of the medical technology company’s stock worth $149,502,000 after buying an additional 120,411 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Teleflex by 10.1% during the first quarter. Northern Trust Corp now owns 481,082 shares of the medical technology company’s stock worth $145,364,000 after buying an additional 44,093 shares in the last quarter. 90.07% of the stock is owned by institutional investors.
TFX traded down $3.10 during trading hours on Thursday, hitting $364.68. 4,627 shares of the stock were exchanged, compared to its average volume of 262,942. The stock has a 50-day simple moving average of $349.66 and a 200-day simple moving average of $310.54. Teleflex Incorporated has a 12 month low of $226.02 and a 12 month high of $373.90. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.52 and a quick ratio of 1.59.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.37%. The ex-dividend date is Wednesday, August 14th. Teleflex’s dividend payout ratio (DPR) is presently 13.74%.
A number of research firms have recently weighed in on TFX. JMP Securities raised their price target on shares of Teleflex from $325.00 to $395.00 and gave the stock a “market outperform” rating in a research report on Monday, August 5th. Morgan Stanley raised their price target 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. Needham & Company LLC reissued a “buy” rating and set a $403.00 price target (up previously from $325.00) on shares of Teleflex in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Co began coverage on shares of Teleflex in a research report on Tuesday, June 11th. They set an “outperform” rating and a $345.00 price target for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Teleflex presently has an average rating of “Buy” and an average target price of $367.67.
In related news, Director Benson Smith sold 8,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $296.00, for a total transaction of $2,516,000.00. Following the transaction, the director now directly owns 85,300 shares in the company, valued at $25,248,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $295.81, for a total value of $59,162.00. Following the transaction, the director now owns 936 shares in the company, valued at $276,878.16. The disclosure for this sale can be found here. Insiders have sold 38,453 shares of company stock worth $12,516,242 over the last 90 days. 2.36% of the stock is currently owned by company insiders.
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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