State Treasurer State of Michigan increased its stake in Teleflex Incorporated (NYSE:TFX) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,530 shares of the medical technology company’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in Teleflex were worth $3,850,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Pennsylvania Trust Co raised its stake in shares of Teleflex by 0.7% in the first quarter. Pennsylvania Trust Co now owns 2,165 shares of the medical technology company’s stock valued at $419,000 after buying an additional 15 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Teleflex by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,175 shares of the medical technology company’s stock valued at $213,000 after buying an additional 35 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Teleflex by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock worth $1,270,000 after buying an additional 37 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Teleflex by 0.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,560 shares of the medical technology company’s stock worth $1,271,000 after buying an additional 38 shares during the period. Finally, Creative Planning raised its position in shares of Teleflex by 3.7% in the first quarter. Creative Planning now owns 2,259 shares of the medical technology company’s stock worth $438,000 after buying an additional 81 shares during the period. 92.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Teleflex Incorporated (NYSE TFX) traded down 1.21% on Friday, reaching $214.26. The company’s stock had a trading volume of 386,731 shares. The company’s 50 day moving average is $207.61 and its 200-day moving average is $195.00. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 44.47 and a beta of 1.05. Teleflex Incorporated has a 1-year low of $136.53 and a 1-year high of $217.97.
Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13. Teleflex had a return on equity of 13.73% and a net margin of 14.82%. The business had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Teleflex Incorporated will post $8.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.63%. Teleflex’s payout ratio is 26.00%.
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A number of research analysts recently issued reports on TFX shares. Barclays PLC reaffirmed a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $228.00 target price on the stock in a report on Friday, June 23rd. Deutsche Bank AG increased their price target on Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $224.00 price target on shares of Teleflex in a research report on Friday, May 5th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Teleflex in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Teleflex has an average rating of “Buy” and a consensus price target of $221.17.
In other Teleflex news, VP John Deren sold 2,246 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $194.07, for a total value of $435,881.22. Following the completion of the sale, the vice president now directly owns 3,989 shares in the company, valued at $774,145.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stuart A. Randle sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total transaction of $514,175.00. Following the completion of the sale, the director now owns 7,532 shares of the company’s stock, valued at $1,549,106.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,546 shares of company stock valued at $2,079,856. Company insiders own 2.39% of the company’s stock.
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).
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