Newport Trust Co bought a new position in Teleflex Incorporated (NYSE:TFX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 116,900 shares of the medical technology company’s stock, valued at approximately $39,717,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Teleflex in the second quarter worth $46,000. Aviva PLC boosted its position in shares of Teleflex by 41.9% in the second quarter. Aviva PLC now owns 24,440 shares of the medical technology company’s stock worth $8,093,000 after buying an additional 7,219 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Teleflex by 40.8% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,729 shares of the medical technology company’s stock worth $3,985,000 after buying an additional 3,398 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Teleflex by 7.0% in the second quarter. Envestnet Asset Management Inc. now owns 13,954 shares of the medical technology company’s stock worth $4,621,000 after buying an additional 909 shares during the period. Finally, Peapack Gladstone Financial Corp acquired a new stake in shares of Teleflex in the second quarter worth $200,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Several analysts have recently commented on TFX shares. Barclays set a $365.00 target price on Teleflex and gave the stock a “hold” rating in a research report on Friday, November 1st. Raymond James decreased their target price on Teleflex from $420.00 to $415.00 and set a “strong-buy” rating for the company in a research report on Monday, October 7th. Morgan Stanley raised their target price on Teleflex from $345.00 to $392.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Svb Leerink raised their target price on Teleflex from $395.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, JMP Securities raised their target price on Teleflex from $325.00 to $395.00 and gave the stock a “market outperform” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Teleflex currently has an average rating of “Buy” and an average target price of $381.30.

In related news, CFO Thomas E. Powell sold 7,500 shares of Teleflex stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $327.42, for a total transaction of $2,455,650.00. Following the completion of the sale, the chief financial officer now owns 18,197 shares of the company’s stock, valued at $5,958,061.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Benson Smith sold 17,000 shares of Teleflex stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $340.01, for a total value of $5,780,170.00. Following the sale, the director now directly owns 65,809 shares of the company’s stock, valued at approximately $22,375,718.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,085 shares of company stock valued at $25,152,672. Insiders own 2.36% of the company’s stock.

TFX traded down $4.36 during trading on Friday, reaching $331.18. 342,476 shares of the stock traded hands, compared to its average volume of 321,162. The stock has a market cap of $15.57 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.12 and a beta of 0.96. Teleflex Incorporated has a fifty-two week low of $226.02 and a fifty-two week high of $373.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.33 and a quick ratio of 1.44. The stock’s 50-day simple moving average is $331.86 and its two-hundred day simple moving average is $328.98.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.22. The firm had revenue of $648.32 million during the quarter, compared to analysts’ expectations of $643.20 million. Teleflex had a return on equity of 18.81% and a net margin of 17.36%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.52 earnings per share. Research analysts anticipate that Teleflex Incorporated will post 11.08 earnings per share for the current fiscal year.

The company also recently disclosed a dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 14th. Teleflex’s payout ratio is 13.74%.

Teleflex Company 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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