Connecticut Wealth Management LLC Holds Position in Teleflex Incorporated (NYSE:TFX)
Connecticut Wealth Management LLC continued to hold its stake in shares of Teleflex Incorporated (NYSE:TFX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,312 shares of the medical technology company’s stock at the end of the second quarter. Connecticut Wealth Management LLC’s holdings in Teleflex were worth $690,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Asset Planning Services Ltd. bought a new stake in shares of Teleflex during the first quarter valued at about $116,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Teleflex during the first quarter valued at about $155,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Teleflex during the second quarter valued at about $200,000. Finally, Harvey Capital Management Inc. bought a new stake in shares of Teleflex during the second quarter valued at about $207,000. 93.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of Teleflex Incorporated (NYSE TFX) opened at 210.60 on Thursday. The company has a 50-day moving average price of $209.36 and a 200 day moving average price of $196.56. Teleflex Incorporated has a 52-week low of $136.53 and a 52-week high of $216.37. The firm has a market capitalization of $9.47 billion, a PE ratio of 43.71 and a beta of 1.05.
Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. Teleflex’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. Analysts expect that Teleflex Incorporated will post $8.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, August 11th. Teleflex’s payout ratio is currently 26.00%.
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Several brokerages recently issued reports on TFX. BidaskClub downgraded Teleflex from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $230.00 price target on shares of Teleflex in a report on Thursday, August 3rd. Needham & Company LLC reissued a “buy” rating on shares of Teleflex in a report on Friday, August 4th. Deutsche Bank AG reissued a “buy” rating and issued a $238.00 price target (up previously from $220.00) on shares of Teleflex in a report on Wednesday. Finally, Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $228.00.
In other news, Director Stephen K. M.D. Klasko sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $193.56, for a total value of $1,006,512.00. Following the transaction, the director now directly owns 12,880 shares of the company’s stock, valued at approximately $2,493,052.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $199.93, for a total value of $39,986.00. Following the completion of the transaction, the director now directly owns 8,080 shares in the company, valued at $1,615,434.40. The disclosure for this sale can be found here. Insiders sold a total of 8,300 shares of company stock worth $1,643,975 over the last three months. 2.39% of the stock is owned by company insiders.
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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