Allianz Asset Management GmbH Has $17.62 Million Stake in Teleflex Incorporated (TFX)

Allianz Asset Management GmbH cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 34.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,223 shares of the medical technology company’s stock after selling 34,140 shares during the period. Allianz Asset Management GmbH owned approximately 0.14% of Teleflex worth $17,621,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. First Hawaiian Bank acquired a new stake in shares of Teleflex during the 3rd quarter valued at about $156,000. Qube Research & Technologies Ltd acquired a new stake in shares of Teleflex during the 2nd quarter valued at about $168,000. First Light Asset Management LLC acquired a new stake in shares of Teleflex during the 2nd quarter valued at about $210,000. Dupont Capital Management Corp grew its position in shares of Teleflex by 80.5% during the 2nd quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock valued at $223,000 after acquiring an additional 371 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Teleflex during the 3rd quarter valued at about $260,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Shares of Teleflex stock opened at $256.64 on Friday. The stock has a market capitalization of $12.24 billion, a P/E ratio of 30.55, a P/E/G ratio of 2.15 and a beta of 1.14. Teleflex Incorporated has a twelve month low of $227.52 and a twelve month high of $288.78. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.51 and a current ratio of 2.26.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, November 1st. The medical technology company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.11. The firm had revenue of $609.70 million for the quarter, compared to analyst estimates of $609.05 million. Teleflex had a net margin of 2.81% and a return on equity of 18.04%. Teleflex’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $2.12 EPS. Sell-side analysts forecast that Teleflex Incorporated will post 9.91 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, November 14th. Teleflex’s dividend payout ratio is presently 16.19%.

In other Teleflex news, VP Thomas Anthony Kennedy sold 20,635 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $268.91, for a total value of $5,548,957.85. Following the transaction, the vice president now directly owns 6,046 shares of the company’s stock, valued at approximately $1,625,829.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas E. Powell sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $269.64, for a total transaction of $1,402,128.00. Following the completion of the transaction, the insider now directly owns 12,432 shares in the company, valued at $3,352,164.48. The disclosure for this sale can be found here. Insiders sold a total of 82,329 shares of company stock worth $21,275,053 over the last ninety days. 2.56% of the stock is currently owned by corporate insiders.

TFX has been the topic of a number of research reports. Needham & Company LLC raised shares of Teleflex from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $279.00 to $300.00 in a research note on Monday, September 10th. ValuEngine raised shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Barclays initiated coverage on shares of Teleflex in a research note on Monday, October 15th. They issued an “equal weight” rating and a $266.00 price target on the stock. Piper Jaffray Companies raised their price target on shares of Teleflex to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. Finally, UBS Group initiated coverage on shares of Teleflex in a research note on Tuesday, November 27th. They issued a “buy” rating and a $310.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $291.67.

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Teleflex 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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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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