Newport Trust Co bought a new stake in Teleflex Incorporated (NYSE:TFX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 116,900 shares of the medical technology company’s stock, valued at approximately $39,717,000. Newport Trust Co owned approximately 0.25% of Teleflex as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of TFX. SG Americas Securities LLC bought a new position in Teleflex during the 3rd quarter worth approximately $2,924,000. Donaldson Capital Management LLC lifted its holdings in Teleflex by 24.3% during the 3rd quarter. Donaldson Capital Management LLC now owns 876 shares of the medical technology company’s stock worth $298,000 after buying an additional 171 shares during the last quarter. Keybank National Association OH lifted its holdings in Teleflex by 1.6% during the 3rd quarter. Keybank National Association OH now owns 2,481 shares of the medical technology company’s stock worth $843,000 after buying an additional 38 shares during the last quarter. Bartlett & Co. LLC lifted its holdings in Teleflex by 10.2% during the 3rd quarter. Bartlett & Co. LLC now owns 984 shares of the medical technology company’s stock worth $334,000 after buying an additional 91 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Teleflex during the 3rd quarter worth approximately $1,137,000. Institutional investors and hedge funds own 90.63% of the company’s stock.
In related news, Director Benson Smith sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $340.00, for a total value of $2,890,000.00. Following the sale, the director now owns 57,309 shares of the company’s stock, valued at approximately $19,485,060. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Deren sold 2,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $365.06, for a total value of $731,580.24. Following the completion of the sale, the vice president now directly owns 3,046 shares in the company, valued at approximately $1,111,972.76. The disclosure for this sale can be found here. In the last three months, insiders sold 74,085 shares of company stock worth $25,152,672. Company insiders own 2.36% of the company’s stock.
Shares of NYSE TFX traded down $4.36 during mid-day trading on Friday, hitting $331.18. The company had a trading volume of 342,476 shares, compared to its average volume of 321,162. The stock has a market cap of $15.57 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.12 and a beta of 0.96. Teleflex Incorporated has a 12 month low of $226.02 and a 12 month high of $373.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.33 and a quick ratio of 1.44. The firm’s 50 day simple moving average is $331.86 and its two-hundred day simple moving average is $328.98.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, October 31st. The medical technology company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.22. The business had revenue of $648.32 million for the quarter, compared to the consensus estimate of $643.20 million. Teleflex had a return on equity of 18.81% and a net margin of 17.36%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $2.52 EPS. Equities analysts forecast that Teleflex Incorporated will post 11.08 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 14th. Teleflex’s dividend payout ratio (DPR) is 13.74%.
A number of research analysts have commented on TFX shares. ValuEngine downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Svb Leerink increased their target price on Teleflex from $395.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Morgan Stanley increased their target price on Teleflex from $345.00 to $392.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Raymond James reduced their target price on Teleflex from $420.00 to $415.00 and set a “strong-buy” rating on the stock in a report on Monday, October 7th. Finally, Barclays set a $365.00 target price on Teleflex and gave the stock a “hold” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Teleflex currently has a consensus rating of “Buy” and an average price target of $381.30.
Teleflex Company 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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