Dividend Assets Capital LLC Cuts Position in Teleflex Incorporated (NYSE:TFX)
Dividend Assets Capital LLC cut its position in shares of Teleflex Incorporated (NYSE:TFX) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 7,660 shares of the medical technology company’s stock after selling 800 shares during the period. Dividend Assets Capital LLC’s holdings in Teleflex were worth $1,591,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Asset Planning Services Ltd. purchased a new stake in shares of Teleflex during the first quarter worth approximately $116,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Teleflex during the first quarter worth approximately $155,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted 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 worth $174,000 after buying an additional 600 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Teleflex during the second quarter worth approximately $200,000. Finally, Harvey Capital Management Inc. purchased a new stake in shares of Teleflex during the second quarter worth approximately $207,000. 92.59% of the stock is owned by hedge funds and other institutional investors.
Teleflex Incorporated (TFX) opened at 205.34 on Monday. The stock has a 50 day moving average price of $209.41 and a 200-day moving average price of $196.91. Teleflex Incorporated has a 12-month low of $136.53 and a 12-month high of $217.97. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 39.27 and a beta of 1.05.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 EPS. On average, analysts predict that Teleflex Incorporated will post $8.28 EPS for the current fiscal year.
The firm also recently disclosed 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 annualized dividend and a yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is presently 26.00%.
TFX has been the subject of a number of research reports. Barclays PLC reissued a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a research note on Friday, June 23rd. Deutsche Bank AG raised their price objective on Teleflex from $213.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $224.00 target price on shares of Teleflex in a report on Friday, May 5th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $253.00 target price (up previously from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $228.00.
In related news, Director Stuart A. Randle sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total value of $514,175.00. Following the transaction, the director now directly owns 7,532 shares of the company’s stock, valued at approximately $1,549,106.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were 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 3,100 shares of company stock worth $637,463 over the last ninety days. 2.39% of the stock is currently owned by 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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