Catalyst Capital Advisors LLC Buys Shares of 55,000 Teleflex Incorporated (NYSE:TFX)
Catalyst Capital Advisors LLC bought a new stake in Teleflex Incorporated (NYSE:TFX) during the second quarter, Holdings Channel reports. The institutional investor bought 55,000 shares of the medical technology company’s stock, valued at approximately $11,427,000. Teleflex makes up approximately 0.5% of Catalyst Capital Advisors LLC’s investment portfolio, making the stock its 25th largest position.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Rice Hall James & Associates LLC boosted its stake in Teleflex by 24.9% in the second quarter. Rice Hall James & Associates LLC now owns 107,681 shares of the medical technology company’s stock valued at $22,372,000 after buying an additional 21,461 shares during the last quarter. First Trust Advisors LP boosted its stake in Teleflex by 55.7% in the second quarter. First Trust Advisors LP now owns 74,551 shares of the medical technology company’s stock valued at $15,489,000 after buying an additional 26,666 shares during the last quarter. Arizona State Retirement System boosted its stake in Teleflex by 31.0% in the second quarter. Arizona State Retirement System now owns 24,501 shares of the medical technology company’s stock valued at $5,090,000 after buying an additional 5,801 shares during the last quarter. Blue Sky Asset Management LLC acquired a new stake in Teleflex during the second quarter valued at $723,000. Finally, Solaris Asset Management LLC boosted its stake in Teleflex by 1.0% in the second quarter. Solaris Asset Management LLC now owns 26,844 shares of the medical technology company’s stock valued at $5,577,000 after buying an additional 278 shares during the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.
Teleflex Incorporated (TFX) opened at 205.34 on Friday. The stock has a market capitalization of $9.25 billion, a PE ratio of 39.27 and a beta of 1.05. The company’s 50 day moving average price is $209.41 and its 200-day moving average price is $196.91. Teleflex Incorporated has a one year low of $136.53 and a one year high of $217.97.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.13. The firm had revenue of $528.60 million during the quarter, compared to analyst estimates of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 earnings per share. Analysts expect that Teleflex Incorporated will post $8.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a $0.34 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. Teleflex’s dividend payout ratio is currently 26.00%.
Several analysts have weighed in on the company. BidaskClub cut Teleflex from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Teleflex in a report on Thursday, August 3rd. Needham & Company LLC reaffirmed a “buy” rating on shares of Teleflex in a report on Friday, August 4th. Deutsche Bank AG reaffirmed 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 cut Teleflex from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $228.00.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at $1,683,952.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gretchen R. Haggerty bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average price of $203.82 per share, for a total transaction of $203,820.00. Following the completion of the transaction, the director now directly owns 1,760 shares of the company’s stock, valued at approximately $358,723.20. The disclosure for this purchase can be found here. Insiders sold 8,300 shares of company stock worth $1,643,975 over the last quarter. 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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