Paloma Partners Management Co lowered its position in shares of Teleflex Incorporated (NYSE:TFX) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,620 shares of the medical technology company’s stock after selling 280 shares during the period. Paloma Partners Management Co’s holdings in Teleflex were worth $702,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TFX. Norges Bank bought a new position in Teleflex during the fourth quarter worth $62,676,000. FMR LLC increased its stake in shares of Teleflex by 46.5% in the first quarter. FMR LLC now owns 811,764 shares of the medical technology company’s stock valued at $157,263,000 after buying an additional 257,649 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Teleflex during the first quarter valued at approximately $42,368,000. Marshall Wace North America L.P. acquired a new stake in shares of Teleflex during the first quarter valued at approximately $42,368,000. Finally, Vanguard Group Inc. increased its stake in shares of Teleflex by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,781,475 shares of the medical technology company’s stock valued at $732,584,000 after buying an additional 186,845 shares in the last quarter. 93.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Teleflex Incorporated (NYSE TFX) traded down 0.75% on Tuesday, hitting $213.00. The company’s stock had a trading volume of 189,995 shares. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 44.21 and a beta of 1.05. Teleflex Incorporated has a one year low of $136.53 and a one year high of $216.37. The stock has a 50-day moving average price of $207.61 and a 200 day moving average price of $195.00.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The company had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts predict that Teleflex Incorporated will post $8.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, August 11th. Teleflex’s dividend payout ratio (DPR) is presently 26.00%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $223.00 price target on the stock in a research note on Wednesday, May 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of Teleflex in a report on Thursday, August 3rd. BidaskClub cut Teleflex from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC reaffirmed a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $224.00 target price on shares of Teleflex in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $221.17.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $199.93, for a total value of $39,986.00. Following the completion of the transaction, the director now owns 8,080 shares of the company’s stock, valued at $1,615,434.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen K. M.D. Klasko sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $193.56, for a total transaction of $1,006,512.00. Following the completion of the transaction, the director now directly owns 12,880 shares of the company’s stock, valued at approximately $2,493,052.80. The disclosure for this sale can be found here. In the last three months, insiders sold 8,300 shares of company stock valued at $1,643,975. Company insiders own 2.39% of the company’s stock.
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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