Dimensional Fund Advisors LP trimmed its stake in shares of Teleflex Incorporated (NYSE:TFX) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 322,273 shares of the medical technology company’s stock after selling 37,920 shares during the period. Dimensional Fund Advisors LP owned about 0.72% of Teleflex worth $66,953,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Teleflex by 200.0% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after acquiring an additional 600 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Teleflex during the 2nd quarter worth approximately $200,000. Calamos Advisors LLC purchased a new position in shares of Teleflex during the 2nd quarter worth approximately $206,000. Harvey Capital Management Inc. purchased a new position in shares of Teleflex during the 2nd quarter worth approximately $207,000. Finally, Advisor Partners LLC purchased a new position in shares of Teleflex during the 2nd quarter worth approximately $212,000. Institutional investors own 89.75% of the company’s stock.
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In other news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $211.75, for a total transaction of $42,350.00. Following the sale, the director now owns 8,080 shares in the company, valued at $1,710,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 600 shares of company stock worth $132,408 in the last 90 days. 2.39% of the stock is owned by company insiders.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The business had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.57%. Teleflex’s dividend payout ratio is currently 26.00%.
A number of brokerages have recently weighed in on TFX. Needham & Company LLC raised their price objective on shares of Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Morgan Stanley raised shares of Teleflex from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $220.00 to $274.00 in a research note on Wednesday, September 6th. KeyCorp reissued a “hold” rating on shares of Teleflex in a research note on Wednesday, September 6th. Jefferies Group LLC reissued a “buy” rating and set a $253.00 price objective (up from $230.00) on shares of Teleflex in a research note on Wednesday, August 9th. Finally, Barclays PLC reissued an “overweight” rating and set a $253.00 price objective (up from $230.00) on shares of Teleflex in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $260.75.
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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