Nomura Asset Management Co. Ltd. cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 0.9% in the second quarter, HoldingsChannel.com reports. The firm owned 7,039 shares of the medical technology company’s stock after selling 65 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Teleflex were worth $2,331,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC purchased a new position in Teleflex during the 2nd quarter valued at about $25,000. Icon Wealth Partners LLC acquired a new stake in shares of Teleflex during the 1st quarter worth about $37,000. Cullen Frost Bankers Inc. acquired a new position in Teleflex during the second quarter worth approximately $52,000. FTB Advisors Inc. acquired a new position in Teleflex during the second quarter worth approximately $54,000. Finally, Commonwealth Bank of Australia increased its position in Teleflex by 347.4% during the second quarter. Commonwealth Bank of Australia now owns 170 shares of the medical technology company’s stock worth $54,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 90.40% of the company’s stock.
NYSE TFX traded up $0.36 on Thursday, reaching $341.19. 2,719 shares of the stock traded hands, compared to its average volume of 246,187. The company has a market cap of $15.76 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 2.13 and a beta of 1.00. The company has a quick ratio of 1.59, a current ratio of 2.52 and a debt-to-equity ratio of 0.82. The firm’s fifty day simple moving average is $357.58 and its 200 day simple moving average is $320.20. Teleflex Incorporated has a 12 month low of $226.02 and a 12 month high of $373.90.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $2.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.59 by $0.07. The business had revenue of $652.50 million during the quarter, compared to analysts’ expectations of $637.06 million. Teleflex had a return on equity of 18.57% and a net margin of 10.78%. Teleflex’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.47 earnings per share. As a group, equities research analysts forecast that Teleflex Incorporated will post 11.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 annualized dividend and a yield of 0.40%. Teleflex’s dividend payout ratio (DPR) is currently 13.74%.
In related news, CFO Thomas E. Powell sold 7,500 shares of Teleflex stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $355.52, for a total transaction of $2,666,400.00. Following the sale, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at $6,469,397.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John Deren sold 2,004 shares of Teleflex stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $365.06, for a total value of $731,580.24. Following the sale, the vice president now directly owns 3,046 shares in the company, valued at $1,111,972.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,104 shares of company stock worth $9,253,957. Corporate insiders own 2.36% of the company’s stock.
Several brokerages have weighed in on TFX. Raymond James lifted their target price on Teleflex from $350.00 to $420.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Wells Fargo & Co initiated coverage on Teleflex in a research report on Tuesday, June 11th. They set an “outperform” rating and a $345.00 target price on the stock. Svb Leerink boosted their price target on Teleflex from $395.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. JMP Securities boosted their price target on Teleflex from $325.00 to $395.00 and gave the stock a “market outperform” rating in a report on Monday, August 5th. Finally, ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $374.45.
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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