Private Advisor Group LLC Raises Holdings in Teleflex Incorporated (TFX)
Private Advisor Group LLC grew its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 31.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,487 shares of the medical technology company’s stock after purchasing an additional 594 shares during the quarter. Private Advisor Group LLC’s holdings in Teleflex were worth $518,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Federated Investors Inc. PA boosted its position in Teleflex by 65.4% during the second quarter. Federated Investors Inc. PA now owns 38,160 shares of the medical technology company’s stock worth $7,928,000 after purchasing an additional 15,091 shares during the period. Rafferty Asset Management LLC bought a new position in Teleflex during the first quarter worth about $877,000. Creative Planning boosted its position in Teleflex by 69.5% during the second quarter. Creative Planning now owns 3,828 shares of the medical technology company’s stock worth $795,000 after purchasing an additional 1,569 shares during the period. Legal & General Group Plc boosted its position in Teleflex by 25.6% during the second quarter. Legal & General Group Plc now owns 85,403 shares of the medical technology company’s stock worth $17,734,000 after purchasing an additional 17,403 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its position in Teleflex by 2.7% during the second quarter. Xact Kapitalforvaltning AB now owns 3,482 shares of the medical technology company’s stock worth $723,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 90.50% of the company’s stock.
Teleflex Incorporated (NYSE:TFX) opened at 235.23 on Friday. Teleflex Incorporated has a 52-week low of $136.53 and a 52-week high of $236.02. The stock has a 50 day moving average of $214.79 and a 200-day moving average of $204.26. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 44.99 and a beta of 1.05.
Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.13. The company had revenue of $528.60 million during 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%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. On average, equities research analysts anticipate that Teleflex Incorporated will post $8.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.58%. Teleflex’s dividend payout ratio (DPR) is presently 26.00%.
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In related news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $208.10, for a total transaction of $41,620.00. Following the completion of the transaction, the director now directly owns 8,080 shares in the company, valued at approximately $1,681,448. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gretchen R. Haggerty acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were bought at an average price of $203.82 per share, with a total value of $203,820.00. Following the completion of the purchase, the director now owns 1,760 shares in the company, valued at approximately $358,723.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 600 shares of company stock valued at $125,652. 2.39% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Leerink Swann increased their target price on shares of Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, June 9th. Zacks Investment Research lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $220.00 to $274.00 in a research report on Wednesday, September 6th. Finally, KeyCorp restated a “hold” rating on shares of Teleflex in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $257.00.
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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