Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Teleflex Incorporated (NYSE:TFX) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,589 shares of the medical technology company’s stock after selling 1,105 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Teleflex were worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in TFX. BlackRock Inc. grew its holdings in Teleflex by 8.3% in the first quarter. BlackRock Inc. now owns 4,652,821 shares of the medical technology company’s stock worth $1,362,626,000 after purchasing an additional 357,882 shares during the period. State Street Corp boosted its position in shares of Teleflex by 0.4% during the 1st quarter. State Street Corp now owns 1,914,980 shares of the medical technology company’s stock worth $560,821,000 after purchasing an additional 7,754 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Teleflex by 2.3% in the 1st quarter. William Blair Investment Management LLC now owns 702,708 shares of the medical technology company’s stock valued at $205,795,000 after buying an additional 15,725 shares during the period. Bessemer Group Inc. increased its position in Teleflex by 16.9% in the 1st quarter. Bessemer Group Inc. now owns 418,855 shares of the medical technology company’s stock valued at $122,667,000 after buying an additional 60,454 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Teleflex by 11.4% in the 1st quarter. Bank of New York Mellon Corp now owns 405,546 shares of the medical technology company’s stock valued at $118,769,000 after buying an additional 41,574 shares in the last quarter. Institutional investors own 91.20% of the company’s stock.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $386.35, for a total transaction of $77,270.00. Following the completion of the sale, the director now owns 1,321 shares in the company, valued at $510,368.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John Deren sold 1,093 shares of Teleflex stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $330.10, for a total transaction of $360,799.30. Following the completion of the sale, the chief accounting officer now directly owns 1,253 shares in the company, valued at approximately $413,615.30. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.
TFX opened at $373.10 on Friday. Teleflex Incorporated has a fifty-two week low of $221.27 and a fifty-two week high of $405.07. The firm has a market capitalization of $17.32 billion, a P/E ratio of 36.72, a PEG ratio of 2.92 and a beta of 1.01. The company’s 50-day moving average is $368.12 and its 200 day moving average is $350.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.38 and a quick ratio of 2.38.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.68. Teleflex had a net margin of 18.99% and a return on equity of 17.15%. The firm had revenue of $567.00 million during the quarter, compared to analyst estimates of $537.85 million. During the same quarter last year, the business posted $2.66 EPS. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. On average, equities research analysts expect that Teleflex Incorporated will post 10.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.36 dividend on an annualized basis and a yield of 0.36%. Teleflex’s dividend payout ratio (DPR) is currently 12.20%.
Several research firms have recently commented on TFX. SVB Leerink boosted their price objective on Teleflex from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Piper Sandler decreased their price target on shares of Teleflex from $425.00 to $375.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. JMP Securities lowered their price objective on shares of Teleflex from $395.00 to $385.00 and set a “market outperform” rating on the stock in a report on Friday, May 1st. Raymond James lifted their price objective on shares of Teleflex from $400.00 to $440.00 and gave the company a “strong-buy” rating in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $431.00 target price on shares of Teleflex in a research report on Thursday, April 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $389.40.
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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