Teleflex Incorporated (TFX) Position Boosted by Private Advisor Group LLC
Private Advisor Group LLC boosted its holdings in Teleflex Incorporated (NYSE:TFX) by 21.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,848 shares of the medical technology company’s stock after buying an additional 496 shares during the quarter. Private Advisor Group LLC’s holdings in Teleflex were worth $758,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of TFX. Parallel Advisors LLC increased its holdings in Teleflex by 200.0% in the second quarter. Parallel Advisors LLC now owns 450 shares of the medical technology company’s stock valued at $120,000 after buying an additional 300 shares during the last quarter. First Hawaiian Bank purchased a new position in Teleflex in the third quarter valued at $156,000. Qube Research & Technologies Ltd purchased a new position in Teleflex in the second quarter valued at $168,000. First Light Asset Management LLC purchased a new position in Teleflex in the second quarter valued at $210,000. Finally, Dupont Capital Management Corp increased its holdings in Teleflex by 80.5% in the second quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock valued at $223,000 after buying an additional 371 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TFX stock opened at $253.50 on Wednesday. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.04 and a beta of 1.12. 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 quick ratio of 1.51 and a current ratio of 2.26.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Thursday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, November 14th. Teleflex’s dividend payout ratio is currently 16.19%.
In related news, insider Thomas E. Powell sold 5,200 shares of the firm’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $264.82, for a total transaction of $1,377,064.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas Anthony Kennedy sold 20,635 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $268.91, for a total value of $5,548,957.85. Following the transaction, the vice president now directly owns 6,046 shares in the company, valued at approximately $1,625,829.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,660 shares of company stock worth $23,552,188. Corporate insiders own 2.56% of the company’s stock.
TFX has been the topic of several research reports. Piper Jaffray Companies raised their price objective on Teleflex to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. ValuEngine raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Morgan Stanley dropped their price objective on Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, August 3rd. Needham & Company LLC raised Teleflex from a “buy” rating to a “strong-buy” rating and raised their price objective for the stock from $279.00 to $300.00 in a report on Monday, September 10th. Finally, TheStreet lowered Teleflex from a “b” rating to a “c+” rating in a report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $289.38.
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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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