Sei Investments Co. Increases Position in Teleflex Incorporated (NYSE:TFX)
Sei Investments Co. boosted its position in shares of Teleflex Incorporated (NYSE:TFX) by 99.5% during the second quarter, Holdings Channel reports. The fund owned 48,265 shares of the medical technology company’s stock after buying an additional 24,073 shares during the period. Sei Investments Co.’s holdings in Teleflex were worth $10,028,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TFX. Asset Planning Services Ltd. purchased a new position in shares of Teleflex during the first quarter worth approximately $116,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Teleflex during the first quarter worth approximately $155,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position 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 last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Teleflex during the second quarter worth approximately $200,000. Finally, Harvey Capital Management Inc. purchased a new position in shares of Teleflex during the second quarter worth approximately $207,000. Institutional investors own 93.02% of the company’s stock.
Teleflex Incorporated (NYSE TFX) opened at 204.00 on Friday. Teleflex Incorporated has a 12 month low of $136.53 and a 12 month high of $217.97. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 39.01 and a beta of 1.05. The company’s 50-day moving average price is $209.38 and its 200 day moving average price is $196.62.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million during the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. Analysts forecast that Teleflex Incorporated will post $8.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s dividend payout ratio is presently 26.00%.
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A number of research analysts have recently commented on TFX shares. Barclays PLC reiterated a “buy” rating on shares of Teleflex in a research note on Monday, June 26th. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $228.00 price target for the company in a research note on Friday, June 23rd. Deutsche Bank AG raised their target price on Teleflex from $213.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $224.00 target price on shares of Teleflex in a research report on Friday, May 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $253.00 target price (up from $230.00) on shares of Teleflex in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Teleflex currently has an average rating of “Buy” and an average price target of $228.00.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction 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 sale, the director now directly owns 8,080 shares of the company’s stock, valued at $1,615,434.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stuart A. Randle sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total transaction of $514,175.00. Following the completion of the sale, the director now directly owns 7,532 shares of the company’s stock, valued at $1,549,106.44. The disclosure for this sale can be found here. Insiders sold 8,300 shares of company stock valued at $1,643,975 over the last three months. 2.39% of the stock is currently owned by insiders.
Teleflex Company Profile
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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