BlackRock Inc. decreased its position in Teleflex Incorporated (NYSE:TFX) by 2.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,932,503 shares of the medical technology company’s stock after selling 112,460 shares during the period. BlackRock Inc. owned 0.11% of Teleflex worth $1,981,829,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Logan Capital Management Inc. purchased a new stake in shares of Teleflex in the first quarter valued at approximately $31,000. Highlander Capital Management LLC purchased a new stake in shares of Teleflex in the second quarter valued at approximately $40,000. Group One Trading L.P. purchased a new stake in shares of Teleflex in the second quarter valued at approximately $40,000. Evolution Wealth Advisors LLC raised its stake in Teleflex by 60.3% in the second quarter. Evolution Wealth Advisors LLC now owns 109 shares of the medical technology company’s stock worth $44,000 after buying an additional 41 shares in the last quarter. Finally, Barrett Asset Management LLC bought a new position in Teleflex in the first quarter worth approximately $59,000. Hedge funds and other institutional investors own 91.38% of the company’s stock.
TFX has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating on shares of Teleflex in a research note on Friday, July 30th. Needham & Company LLC initiated coverage on shares of Teleflex in a research note on Friday, July 9th. They issued a “buy” rating and a $486.00 price objective for the company. KeyCorp reduced their price objective on shares of Teleflex from $448.00 to $439.00 and set an “overweight” rating for the company in a research note on Monday, August 2nd. SVB Leerink boosted their price objective on shares of Teleflex from $410.00 to $415.00 and gave the stock a “market perform” rating in a research note on Friday, July 30th. Finally, Jefferies Financial Group initiated coverage on shares of Teleflex in a research note on Friday, September 10th. They issued a “buy” rating and a $485.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Teleflex currently has a consensus rating of “Buy” and a consensus target price of $455.80.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, July 29th. The medical technology company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.48. Teleflex had a net margin of 13.06% and a return on equity of 17.29%. The business had revenue of $713.47 million for the quarter, compared to analyst estimates of $680.85 million. During the same period in the prior year, the company posted $1.93 EPS. On average, analysts anticipate that Teleflex Incorporated will post 12.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Monday, August 16th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 13th. This represents a $1.36 annualized dividend and a dividend yield of 0.35%. Teleflex’s dividend payout ratio (DPR) is presently 12.75%.
In related news, Director Stephen K. M.D. Klasko sold 3,564 shares of the company’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $422.55, for a total transaction of $1,505,968.20. Following the completion of the transaction, the director now owns 4,988 shares in the company, valued at approximately $2,107,679.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Liam Kelly sold 8,987 shares of the stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $376.32, for a total transaction of $3,381,987.84. Following the completion of the sale, the chief executive officer now owns 34,762 shares of the company’s stock, valued at approximately $13,081,635.84. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.
Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.
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