Pennsylvania Trust Co boosted its stake in Teleflex Incorporated (NYSE:TFX) by 50.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,265 shares of the medical technology company’s stock after buying an additional 1,100 shares during the period. Pennsylvania Trust Co’s holdings in Teleflex were worth $678,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Asset Planning Services Ltd. purchased a new stake in shares of Teleflex during the first quarter valued at $116,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Teleflex during the first quarter valued at $155,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Teleflex by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,175 shares of the medical technology company’s stock valued at $213,000 after buying an additional 35 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. purchased a new stake in shares of Teleflex during the first quarter valued at $213,000. 93.02% of the stock is owned by hedge funds and other institutional investors.
Teleflex Incorporated (TFX) traded down 0.75% during trading on Tuesday, hitting $213.00. The stock had a trading volume of 189,995 shares. The company has a 50-day moving average of $207.61 and a 200 day moving average of $195.00. The company 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 52 week low of $136.53 and a 52 week high of $216.37.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts anticipate that Teleflex Incorporated will post $8.25 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. Teleflex’s payout ratio is currently 26.00%.
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Several brokerages have weighed in on TFX. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $223.00 price objective for the company in a report on Wednesday, May 24th. Jefferies Group LLC reissued a “buy” rating and set a $230.00 price objective 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 reissued a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $224.00 target price on shares of Teleflex in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $221.17.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 5,200 shares of Teleflex stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $193.56, for a total value of $1,006,512.00. Following the completion of the sale, the director now directly owns 12,880 shares in the company, valued at $2,493,052.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stuart A. Randle sold 2,500 shares of Teleflex stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total value of $514,175.00. Following the completion of the sale, the director now owns 7,532 shares of the company’s stock, valued at $1,549,106.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,300 shares of company stock valued at $1,643,975. 2.39% of the stock is currently owned by corporate insiders.
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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