Fred Alger Management Inc. reduced its stake in shares of Teleflex Incorporated (NYSE:TFX) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the medical technology company’s stock after selling 1,000 shares during the quarter. Fred Alger Management Inc.’s holdings in Teleflex were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Aristotle Atlantic Partners LLC acquired a new position in Teleflex during the fourth quarter worth about $202,000. Coldstream Capital Management Inc. acquired a new position in Teleflex during the third quarter worth about $226,000. Quantitative Systematic Strategies LLC acquired a new position in Teleflex during the fourth quarter worth about $228,000. Checchi Capital Advisers LLC acquired a new position in Teleflex during the fourth quarter worth about $230,000. Finally, Lourd Capital LLC acquired a new position in Teleflex during the fourth quarter worth about $266,000. Institutional investors own 90.75% of the company’s stock.
Shares of Teleflex Incorporated (NYSE TFX) opened at $267.35 on Wednesday. The company has a market cap of $12,000.22, a P/E ratio of 31.71, a PEG ratio of 1.96 and a beta of 1.22. Teleflex Incorporated has a 1 year low of $191.04 and a 1 year high of $288.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.33 and a quick ratio of 1.51.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, March 2nd will be given a $0.34 dividend. The ex-dividend date is Thursday, March 1st. This represents a $1.36 annualized dividend and a dividend yield of 0.51%. Teleflex’s dividend payout ratio is presently 41.59%.
Several research analysts have weighed in on TFX shares. Stephens restated a “buy” rating and set a $300.00 target price on shares of Teleflex in a research report on Thursday, January 18th. Leerink Swann lowered their target price on shares of Teleflex from $321.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. ValuEngine lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Deutsche Bank lowered shares of Teleflex from a “buy” rating to a “hold” rating and set a $251.00 target price on the stock. in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Teleflex presently has an average rating of “Hold” and a consensus target price of $281.56.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $248.96, for a total value of $49,792.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at $2,011,596.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Babich, Jr. sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $263.38, for a total transaction of $658,450.00. Following the completion of the sale, the director now owns 10,583 shares in the company, valued at $2,787,350.54. The disclosure for this sale can be found here. Insiders sold 14,259 shares of company stock worth $3,760,536 over the last quarter. Company insiders own 2.39% of the company’s stock.
WARNING: “Teleflex Incorporated (TFX) Stake Lessened by Fred Alger Management Inc.” was first posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/teleflex-incorporated-tfx-stake-lessened-by-fred-alger-management-inc.html.
Teleflex Company Profile
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).
Receive News & Ratings for Teleflex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex and related companies with MarketBeat.com's FREE daily email newsletter.