Parametric Portfolio Associates LLC Boosts Stake in Teleflex Incorporated (NYSE:TFX)

Parametric Portfolio Associates LLC lifted its stake in Teleflex Incorporated (NYSE:TFX) by 1.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 206,428 shares of the medical technology company’s stock after acquiring an additional 3,296 shares during the period. Parametric Portfolio Associates LLC’s holdings in Teleflex were worth $68,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Neuburgh Advisers LLC boosted its holdings in Teleflex by 3.0% in the 2nd quarter. Neuburgh Advisers LLC now owns 1,088 shares of the medical technology company’s stock worth $360,000 after buying an additional 32 shares during the period. NEXT Financial Group Inc boosted its holdings in Teleflex by 13.7% in the 2nd quarter. NEXT Financial Group Inc now owns 274 shares of the medical technology company’s stock worth $91,000 after buying an additional 33 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Teleflex by 8.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 421 shares of the medical technology company’s stock worth $127,000 after buying an additional 34 shares during the period. Hartford Investment Management Co. boosted its holdings in Teleflex by 0.9% in the 2nd quarter. Hartford Investment Management Co. now owns 5,081 shares of the medical technology company’s stock worth $1,683,000 after buying an additional 44 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its holdings in Teleflex by 3.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 1,496 shares of the medical technology company’s stock worth $495,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Shares of NYSE TFX traded down $5.39 during mid-day trading on Friday, hitting $332.39. 7,162 shares of the company’s stock traded hands, compared to its average volume of 242,472. The company’s 50-day moving average is $359.21 and its two-hundred day moving average is $318.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.52 and a quick ratio of 1.59. The company has a market capitalization of $15.67 billion, a P/E ratio of 33.61, a PEG ratio of 2.19 and a beta of 1.00. Teleflex Incorporated has a 1 year low of $226.02 and a 1 year high of $373.90.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 1st. The medical technology company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.07. The firm had revenue of $652.50 million for the quarter, compared to analysts’ expectations of $637.06 million. Teleflex had a net margin of 10.78% and a return on equity of 18.57%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. Equities analysts anticipate that Teleflex Incorporated will post 11.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, August 14th. Teleflex’s dividend payout ratio is 13.74%.

Several research analysts have commented on TFX shares. Barclays increased their price objective on shares of Teleflex from $309.00 to $356.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Leerink Swann set a $405.00 price objective on shares of Teleflex and gave the company a “buy” rating in a report on Wednesday, September 4th. Raymond James increased their price objective on shares of Teleflex from $350.00 to $420.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Co started coverage on shares of Teleflex in a report on Tuesday, June 11th. They set an “outperform” rating and a $345.00 price objective for the company. Finally, JMP Securities increased their price objective on shares of Teleflex from $325.00 to $395.00 and gave the company a “market outperform” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Teleflex has a consensus rating of “Buy” and a consensus price target of $374.45.

In other news, VP Cameron P. Hicks sold 700 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $330.70, for a total transaction of $231,490.00. Following the sale, the vice president now directly owns 7,076 shares in the company, valued at approximately $2,340,033.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benson Smith sold 8,500 shares of the company’s stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $330.75, for a total transaction of $2,811,375.00. Following the sale, the director now owns 85,300 shares in the company, valued at $28,212,975. The disclosure for this sale can be found here. Insiders have sold a total of 37,453 shares of company stock worth $12,679,692 over the last 90 days. Corporate insiders own 2.36% of the company’s stock.

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.

Further Reading: Rule of 72

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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