Royal London Asset Management Ltd. Cuts Holdings in Teleflex Incorporated (TFX)

Royal London Asset Management Ltd. decreased its holdings in Teleflex Incorporated (NYSE:TFX) by 6.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,877 shares of the medical technology company’s stock after selling 1,177 shares during the period. Royal London Asset Management Ltd.’s holdings in Teleflex were worth $4,757,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TFX. Parallel Advisors LLC raised its stake in shares of 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 acquiring an additional 300 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Teleflex in the 3rd quarter valued at $156,000. Qube Research & Technologies Ltd acquired a new position in shares of Teleflex in the 2nd quarter valued at $168,000. First Light Asset Management LLC acquired a new position in Teleflex in the 2nd quarter worth $210,000. Finally, Dupont Capital Management Corp lifted its position in Teleflex by 80.5% during the 2nd quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock worth $223,000 after buying an additional 371 shares in the last quarter. 93.76% of the stock is owned by institutional investors.

In other Teleflex news, CFO Thomas E. Powell sold 5,200 shares of Teleflex stock in a transaction on Friday, August 31st. The shares were sold at an average price of $247.55, for a total transaction of $1,287,260.00. Following the completion of the transaction, the chief financial officer now directly owns 10,723 shares of the company’s stock, valued at $2,654,478.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stuart A. Randle sold 2,500 shares of Teleflex stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $265.23, for a total transaction of $663,075.00. Following the transaction, the director now directly owns 7,921 shares of the company’s stock, valued at $2,100,886.83. The disclosure for this sale can be found here. Insiders sold a total of 91,660 shares of company stock worth $23,552,188 in the last quarter. Company insiders own 2.56% of the company’s stock.

Several research analysts have weighed in on TFX shares. ValuEngine raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Needham & Company LLC reissued a “buy” rating and issued a $315.00 price objective on shares of Teleflex in a research note on Friday, November 2nd. TheStreet downgraded shares of Teleflex from a “b” rating to a “c+” rating in a research note on Friday, August 3rd. Barclays began coverage on shares of Teleflex in a research note on Monday, October 15th. They set an “equal weight” rating and a $266.00 target price for the company. Finally, Piper Jaffray Companies raised their price target on shares of Teleflex to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $289.38.

TFX stock opened at $252.66 on Friday. Teleflex Incorporated has a one year low of $227.52 and a one year high of $288.78. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.05 and a beta of 1.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.26 and a quick ratio of 1.51.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, November 1st. The medical technology company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.11. The business had revenue of $609.70 million during the quarter, compared to analyst estimates of $609.05 million. Teleflex had a net margin of 2.81% and a return on equity of 18.04%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. As a group, equities research analysts forecast that Teleflex Incorporated will post 9.91 earnings per share for the current fiscal year.

The firm 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 0.54%. The ex-dividend date of this dividend is Wednesday, November 14th. Teleflex’s dividend payout ratio (DPR) is presently 16.19%.

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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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