Rice Hall James & Associates LLC Raises Stake in Teleflex Inc. (TFX)
Rice Hall James & Associates LLC boosted its position in Teleflex Inc. (NYSE:TFX) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 75,130 shares of the medical technology company’s stock after buying an additional 411 shares during the period. Rice Hall James & Associates LLC’s holdings in Teleflex were worth $13,321,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Atlanta Capital Management Co. L L C boosted its position in Teleflex by 42.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,830,995 shares of the medical technology company’s stock valued at $287,484,000 after buying an additional 542,610 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Teleflex by 120.7% in the first quarter. Wellington Management Group LLP now owns 761,800 shares of the medical technology company’s stock valued at $119,610,000 after buying an additional 416,696 shares during the period. USS Investment Management Ltd acquired a new position in shares of Teleflex during the first quarter valued at $58,057,000. Norges Bank acquired a new position in shares of Teleflex during the fourth quarter valued at $43,143,000. Finally, Renaissance Technologies LLC boosted its position in shares of Teleflex by 279.6% in the first quarter. Renaissance Technologies LLC now owns 154,100 shares of the medical technology company’s stock valued at $24,195,000 after buying an additional 113,500 shares during the period. Institutional investors own 93.77% of the company’s stock.
Shares of Teleflex Inc. (NYSE:TFX) traded down 1.14% during midday trading on Tuesday, reaching $165.28. 285,039 shares of the company’s stock were exchanged. The stock has a market cap of $7.28 billion, a P/E ratio of 29.34 and a beta of 0.83. The company’s 50-day moving average is $178.50 and its 200-day moving average is $169.97. Teleflex Inc. has a one year low of $122.14 and a one year high of $188.79.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, July 28th. The medical technology company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Teleflex had a return on equity of 15.59% and a net margin of 14.89%. The business had revenue of $473.60 million for the quarter, compared to analyst estimates of $468.40 million. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Equities analysts expect that Teleflex Inc. will post $7.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.82%. Teleflex’s payout ratio is 24.11%.
Several equities analysts have recently weighed in on TFX shares. Zacks Investment Research upgraded shares of Teleflex from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a research note on Wednesday, June 29th. Leerink Swann increased their price objective on shares of Teleflex from $183.00 to $190.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. Jefferies Group increased their price objective on shares of Teleflex from $157.00 to $185.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Finally, Barclays PLC increased their price objective on shares of Teleflex from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $171.33.
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 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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