Westpac Banking Corp Buys New Position in Teleflex Inc. (TFX)
Westpac Banking Corp bought a new position in shares of Teleflex Inc. (NYSE:TFX) during the second quarter, Holdings Channel reports. The fund bought 36,100 shares of the medical technology company’s stock, valued at approximately $6,401,000. Westpac Banking Corp owned about 0.08% of Teleflex at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Teleflex by 10.2% in the second quarter. Vanguard Group Inc. now owns 3,322,782 shares of the medical technology company’s stock worth $589,162,000 after buying an additional 306,432 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Teleflex by 10.0% in the second quarter. Principal Financial Group Inc. now owns 257,618 shares of the medical technology company’s stock worth $45,678,000 after buying an additional 23,320 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of Teleflex during the second quarter worth approximately $591,000. Prudential Financial Inc. boosted its position in shares of Teleflex by 128.0% in the second quarter. Prudential Financial Inc. now owns 64,348 shares of the medical technology company’s stock worth $11,409,000 after buying an additional 36,122 shares during the last quarter. Finally, Parnassus Investments CA boosted its position in shares of Teleflex by 8.7% in the second quarter. Parnassus Investments CA now owns 62,500 shares of the medical technology company’s stock worth $11,082,000 after buying an additional 5,000 shares during the last quarter. 93.36% of the stock is owned by institutional investors and hedge funds.
Teleflex Inc. (NYSE:TFX) traded down 0.23% during midday trading on Tuesday, reaching $174.95. The company’s stock had a trading volume of 56,881 shares. The firm’s 50-day moving average price is $181.45 and its 200-day moving average price is $168.31. The stock has a market capitalization of $7.70 billion, a PE ratio of 31.05 and a beta of 0.83. Teleflex Inc. has a 52 week low of $122.14 and a 52 week high of $188.79.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, July 28th. The medical technology company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $473.60 million for the quarter, compared to analyst estimates of $468.40 million. Teleflex had a return on equity of 15.59% and a net margin of 14.89%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 EPS. On average, analysts anticipate that Teleflex Inc. will post $7.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, August 11th. Teleflex’s payout ratio is currently 24.11%.
A number of equities analysts have commented on the company. Jefferies Group increased their target price on Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a report on Friday, July 29th. Barclays PLC increased their price target on Teleflex from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Leerink Swann increased their price target on Teleflex from $183.00 to $190.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $192.00 price target for the company in a report on Wednesday, June 29th. Finally, Raymond James Financial Inc. raised Teleflex from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, June 1st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $171.33.
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 markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.
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