Macquarie Group Ltd. cut its stake in shares of Teleflex Incorporated (NYSE:TFX) by 25.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,911 shares of the medical technology company’s stock after selling 53,677 shares during the period. Macquarie Group Ltd. owned 0.35% of Teleflex worth $38,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Federated Investors Inc. PA raised its position in Teleflex by 65.4% during the second quarter. Federated Investors Inc. PA now owns 38,160 shares of the medical technology company’s stock valued at $7,928,000 after purchasing an additional 15,091 shares during the period. Legal & General Group Plc raised its position in Teleflex by 25.6% during the second quarter. Legal & General Group Plc now owns 85,403 shares of the medical technology company’s stock valued at $17,734,000 after purchasing an additional 17,403 shares during the period. Clinton Group Inc. purchased a new stake in Teleflex during the second quarter valued at approximately $325,000. Koch Industries Inc. raised its holdings in shares of Teleflex by 47,174.3% in the second quarter. Koch Industries Inc. now owns 959,669 shares of the medical technology company’s stock worth $955,000 after buying an additional 957,639 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Teleflex by 45.5% in the second quarter. Prudential Financial Inc. now owns 238,682 shares of the medical technology company’s stock worth $49,589,000 after buying an additional 74,686 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $241.88, for a total value of $48,376.00. Following the completion of the transaction, the director now owns 8,080 shares in the company, valued at approximately $1,954,390.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 600 shares of company stock valued at $138,162 in the last quarter. Company insiders own 2.39% of the company’s stock.
Several equities research analysts have recently weighed in on TFX shares. Morgan Stanley increased their price target on Teleflex from $274.00 to $290.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Leerink Swann upgraded Teleflex from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $227.00 to $266.00 in a report on Thursday, September 7th. Jefferies Group LLC increased their price objective on Teleflex from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $238.00 price objective (up previously from $220.00) on shares of Teleflex in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Teleflex currently has an average rating of “Hold” and an average price target of $274.44.
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Teleflex Incorporated (NYSE:TFX) opened at $267.60 on Wednesday. The stock has a market capitalization of $12,011.94, a price-to-earnings ratio of 32.96, a P/E/G ratio of 2.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.72 and a quick ratio of 3.70. Teleflex Incorporated has a 52 week low of $142.97 and a 52 week high of $269.78.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.11. The company had revenue of $534.70 million during the quarter, compared to analyst estimates of $522.94 million. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. analysts forecast that Teleflex Incorporated will post 8.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.51%. Teleflex’s payout ratio is currently 24.82%.
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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