Keybank National Association OH lifted its position in Teleflex Incorporated (NYSE:TFX) by 90.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,994 shares of the medical technology company’s stock after purchasing an additional 2,366 shares during the period. Keybank National Association OH’s holdings in Teleflex were worth $1,329,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings 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 purchasing an additional 300 shares during the period. First Hawaiian Bank purchased a new stake in Teleflex during the third quarter worth $156,000. Qube Research & Technologies Ltd purchased a new stake in Teleflex during the second quarter worth $168,000. First Light Asset Management LLC purchased a new stake in Teleflex during the second quarter worth $210,000. Finally, Dupont Capital Management Corp lifted its holdings in 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 buying an additional 371 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.
In other news, Director Benson Smith sold 9,331 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $247.69, for a total transaction of $2,311,195.39. Following the completion of the sale, the director now owns 77,887 shares in the company, valued at approximately $19,291,831.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stuart A. Randle sold 2,500 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $265.23, for a total value of $663,075.00. Following the sale, the director now owns 7,921 shares of the company’s stock, valued at approximately $2,100,886.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,660 shares of company stock valued at $23,552,188. Company insiders own 2.56% of the company’s stock.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, November 1st. The medical technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.41 by $0.11. Teleflex had a return on equity of 18.04% and a net margin of 2.81%. The firm had revenue of $609.70 million during the quarter, compared to analyst estimates of $609.05 million. During the same quarter in the prior year, the business posted $2.12 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Analysts anticipate 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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.54%. Teleflex’s dividend payout ratio is presently 16.19%.
A number of research firms have weighed in on TFX. ValuEngine upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Needham & Company LLC restated a “buy” rating and set a $315.00 target price on shares of Teleflex in a report on Friday, November 2nd. Piper Jaffray Companies upped their target price on Teleflex to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Barclays began coverage on Teleflex in a report on Monday, October 15th. They set an “equal weight” rating and a $266.00 target price for the company. Finally, Morgan Stanley lowered their target price on Teleflex from $310.00 to $295.00 and set an “overweight” rating for the company in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus 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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