Loomis Sayles & Co. L P trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,347 shares of the medical technology company’s stock after selling 6,253 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.14% of Teleflex worth $16,590,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Raymond James Trust N.A. raised its stake in Teleflex by 12.7% in the 3rd quarter. Raymond James Trust N.A. now owns 1,877 shares of the medical technology company’s stock valued at $500,000 after purchasing an additional 211 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Teleflex by 7.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,235 shares of the medical technology company’s stock valued at $856,000 after purchasing an additional 213 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Teleflex by 1.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,589 shares of the medical technology company’s stock valued at $3,645,000 after purchasing an additional 251 shares during the last quarter. State Treasurer State of Michigan raised its stake in Teleflex by 1.8% in the 2nd quarter. State Treasurer State of Michigan now owns 16,730 shares of the medical technology company’s stock valued at $4,487,000 after purchasing an additional 300 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Teleflex by 14.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 2,524 shares of the medical technology company’s stock valued at $672,000 after purchasing an additional 319 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:TFX opened at $256.64 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.26 and a quick ratio of 1.51. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 2.16 and a beta of 1.14. Teleflex Incorporated has a 52-week low of $227.52 and a 52-week high of $288.78.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, November 1st. The medical technology company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.41 by $0.11. The company had revenue of $609.70 million during the quarter, compared to analysts’ expectations of $609.05 million. Teleflex had a return on equity of 18.04% and a net margin of 2.81%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. As a group, equities analysts expect that Teleflex Incorporated will post 9.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, November 14th. Teleflex’s payout ratio is currently 16.19%.
Several research analysts recently commented on TFX shares. TheStreet raised Teleflex from a “c+” rating to a “b-” rating in a research note on Wednesday, November 28th. UBS Group started coverage on Teleflex in a research note on Tuesday, November 27th. They issued a “buy” rating and a $310.00 price objective for the company. ValuEngine raised Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Needham & Company LLC reissued a “buy” rating and issued a $315.00 price objective on shares of Teleflex in a research note on Friday, November 2nd. Finally, Barclays started coverage on Teleflex in a research note on Monday, October 15th. They issued an “equal weight” rating and a $266.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Teleflex has an average rating of “Buy” and an average target price of $291.67.
In other Teleflex news, Director Benson Smith sold 9,331 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $266.73, for a total value of $2,488,857.63. Following the completion of the sale, the director now directly owns 77,887 shares in the company, valued at approximately $20,774,799.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas E. Powell sold 5,200 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $269.64, for a total value of $1,402,128.00. Following the completion of the sale, the insider now owns 12,432 shares of the company’s stock, valued at $3,352,164.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,329 shares of company stock valued at $21,275,053. 2.56% of the stock is owned by company insiders.
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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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