State Treasurer State of Michigan boosted its position in shares of Teleflex Incorporated (NYSE:TFX) by 1.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 16,730 shares of the medical technology company’s stock after acquiring an additional 300 shares during the quarter. State Treasurer State of Michigan’s holdings in Teleflex were worth $4,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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. Princeton Capital Management LLC purchased a new position in shares of Teleflex during the first quarter worth about $124,000. Dupont Capital Management Corp grew its holdings in shares of Teleflex by 80.5% during the second quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock worth $223,000 after purchasing an additional 371 shares during the last quarter. GWM Advisors LLC purchased a new position in shares of Teleflex during the first quarter worth about $211,000. Finally, Dean Capital Investments Management LLC purchased a new position in shares of Teleflex during the first quarter worth about $230,000. 89.56% of the stock is owned by institutional investors.

In other Teleflex news, Director Andrew A. Krakauer bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average price of $237.56 per share, for a total transaction of $237,560.00. Following the completion of the purchase, the director now owns 1,002 shares of the company’s stock, valued at $238,035.12. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, VP Cameron P. Hicks sold 2,000 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $267.00, for a total transaction of $534,000.00. Following the sale, the vice president now owns 7,014 shares of the company’s stock, valued at approximately $1,872,738. The disclosure for this sale can be found here. Insiders have sold 61,471 shares of company stock valued at $16,532,863 in the last quarter. Insiders own 2.56% of the company’s stock.

TFX has been the topic of several research reports. Needham & Company LLC dropped their price objective on Teleflex from $298.00 to $279.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Leerink Swann raised their price objective on Teleflex from $309.00 to $317.00 and gave the stock an “outperform” rating in a report on Tuesday, June 5th. 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. ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, TheStreet lowered Teleflex from a “b” rating to a “c+” rating in a report on Friday, August 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $281.10.

Shares of TFX opened at $238.15 on Monday. Teleflex Incorporated has a fifty-two week low of $203.70 and a fifty-two week high of $288.78. The stock has a market cap of $10.45 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.20. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.21 and a quick ratio of 1.45.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 2nd. The medical technology company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.06. Teleflex had a net margin of 3.78% and a return on equity of 17.32%. The business had revenue of $609.87 million during the quarter, compared to the consensus estimate of $615.97 million. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. sell-side analysts anticipate that Teleflex Incorporated will post 9.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Wednesday, August 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. Teleflex’s dividend payout ratio (DPR) is 16.19%.

About Teleflex

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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