Virginia Retirement Systems ET AL boosted its stake in Teleflex Incorporated (NYSE:TFX) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the medical technology company’s stock after purchasing an additional 500 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Teleflex were worth $745,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Davis R M Inc. raised its stake in Teleflex by 22.8% during the third quarter. Davis R M Inc. now owns 76,213 shares of the medical technology company’s stock worth $20,280,000 after acquiring an additional 14,139 shares in the last quarter. Partner Fund Management L.P. raised its stake in Teleflex by 1.2% during the second quarter. Partner Fund Management L.P. now owns 169,796 shares of the medical technology company’s stock worth $45,541,000 after acquiring an additional 2,045 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Teleflex during the second quarter worth about $3,297,000. PNC Financial Services Group Inc. raised its stake in Teleflex by 16.9% during the second quarter. PNC Financial Services Group Inc. now owns 28,021 shares of the medical technology company’s stock worth $7,516,000 after acquiring an additional 4,047 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Teleflex by 3.6% during the second quarter. Arizona State Retirement System now owns 31,620 shares of the medical technology company’s stock worth $8,481,000 after acquiring an additional 1,095 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

In related news, Director Benson Smith sold 9,331 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $247.69, for a total value of $2,311,195.39. Following the sale, the director now directly owns 77,887 shares in the company, valued at $19,291,831.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Anthony Kennedy sold 20,635 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $268.91, for a total value of $5,548,957.85. Following the completion of the sale, the vice president now owns 6,046 shares in the company, valued at $1,625,829.86. The disclosure for this sale can be found here. Insiders sold 91,660 shares of company stock valued at $23,552,188 in the last ninety days. 2.56% of the stock is currently owned by insiders.

Several research analysts have commented on TFX shares. ValuEngine downgraded Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Needham & Company LLC lowered their target price on Teleflex from $298.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. Morgan Stanley lowered their target price on Teleflex from $310.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, August 3rd. TheStreet downgraded Teleflex from a “b” rating to a “c+” rating in a research note on Friday, August 3rd. Finally, Barclays assumed coverage on Teleflex in a research note on Monday, October 15th. They set an “equal weight” rating and a $266.00 target price for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $289.38.

Teleflex stock opened at $262.17 on Monday. Teleflex Incorporated has a 1 year low of $227.52 and a 1 year high of $288.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.26 and a quick ratio of 1.51. The company has a market capitalization of $12.06 billion, a PE ratio of 31.21, a PEG ratio of 2.12 and a beta of 1.12.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, November 1st. The medical technology company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.41 by $0.11. Teleflex had a return on equity of 18.04% and a net margin of 2.81%. The company had revenue of $609.70 million during the quarter, compared to the consensus estimate of $609.05 million. During the same quarter in the prior year, the firm posted $2.12 earnings per share. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts predict that Teleflex Incorporated will post 9.91 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, November 14th. Teleflex’s dividend payout ratio is currently 16.19%.

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Teleflex Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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