Teleflex Inc. (TFX) Position Increased by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in shares of Teleflex Inc. (NYSE:TFX) by 46.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 82,547 shares of the medical technology company’s stock after buying an additional 26,313 shares during the period. Retirement Systems of Alabama’s holdings in Teleflex were worth $13,872,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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. Atlanta Capital Management Co. L L C raised its stake in shares of Teleflex by 3.1% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,888,221 shares of the medical technology company’s stock worth $334,801,000 after buying an additional 57,226 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Teleflex by 7.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,282,744 shares of the medical technology company’s stock worth $227,443,000 after buying an additional 83,801 shares during the period. State Street Corp raised its stake in shares of Teleflex by 6.3% in the second quarter. State Street Corp now owns 1,160,615 shares of the medical technology company’s stock worth $205,788,000 after buying an additional 69,298 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Teleflex by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 690,642 shares of the medical technology company’s stock worth $116,061,000 after buying an additional 42,437 shares during the period. 93.18% of the stock is currently owned by hedge funds and other institutional investors.
Teleflex Inc. (NYSE:TFX) traded down 0.84% during trading on Wednesday, hitting $148.39. 254,264 shares of the stock traded hands. The stock has a market cap of $6.54 billion, a PE ratio of 25.63 and a beta of 0.88. The company has a 50-day moving average price of $153.53 and a 200 day moving average price of $169.30. Teleflex Inc. has a one year low of $125.28 and a one year high of $188.79.
Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 27th. The medical technology company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. The firm earned $455.60 million during the quarter, compared to analysts’ expectations of $461.80 million. Teleflex had a return on equity of 15.66% and a net margin of 15.09%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. Analysts expect that Teleflex Inc. will post $7.30 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. Teleflex’s dividend payout ratio is 23.49%.
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A number of analysts recently issued reports on TFX shares. Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Stephens lowered shares of Teleflex from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 28th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average 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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