Redhawk Wealth Advisors Inc. acquired a new position in shares of Teleflex Incorporated (NYSE:TFX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,690 shares of the medical technology company’s stock, valued at approximately $450,000.
Several other hedge funds and other institutional investors have also modified their holdings of TFX. BlackRock Inc. boosted its stake in shares of Teleflex by 2.8% during the third quarter. BlackRock Inc. now owns 4,993,747 shares of the medical technology company’s stock valued at $1,328,788,000 after purchasing an additional 135,484 shares during the period. Atlanta Capital Management Co. L L C raised its holdings in shares of Teleflex by 17.7% during the third quarter. Atlanta Capital Management Co. L L C now owns 2,650,228 shares of the medical technology company’s stock valued at $705,199,000 after acquiring an additional 399,301 shares in the last quarter. FMR LLC raised its holdings in shares of Teleflex by 632.5% during the third quarter. FMR LLC now owns 1,343,305 shares of the medical technology company’s stock valued at $357,440,000 after acquiring an additional 1,159,914 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Teleflex by 52.1% during the third quarter. William Blair Investment Management LLC now owns 955,428 shares of the medical technology company’s stock valued at $254,230,000 after acquiring an additional 327,451 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Teleflex by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 548,319 shares of the medical technology company’s stock valued at $147,064,000 after acquiring an additional 1,783 shares in the last quarter. 92.40% of the stock is owned by institutional investors.
A number of research firms have issued reports on TFX. TheStreet upgraded Teleflex from a “c+” rating to a “b-” rating in a report on Wednesday, November 28th. 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 price target on shares of Teleflex in a report on Friday, November 2nd. UBS Group began coverage on Teleflex in a report on Tuesday, November 27th. They set a “buy” rating and a $310.00 price target for the company. Finally, Piper Jaffray Companies raised their price target on Teleflex to $310.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $291.67.
Shares of NYSE:TFX opened at $258.48 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.51 and a current ratio of 2.26. Teleflex Incorporated has a 52-week low of $226.02 and a 52-week high of $288.78. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.05 and a beta of 1.13.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, November 1st. The medical technology company reported $2.52 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $609.05 million. During the same quarter last year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts anticipate that Teleflex Incorporated will post 9.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Thursday, November 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Wednesday, November 14th. Teleflex’s dividend payout ratio (DPR) is presently 16.19%.
In other Teleflex news, insider Thomas E. Powell sold 5,200 shares of Teleflex stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $246.84, for a total value of $1,283,568.00. Following the sale, the insider now owns 15,351 shares of the company’s stock, valued at approximately $3,789,240.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Benson Smith sold 9,331 shares of Teleflex stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $250.31, for a total value of $2,335,642.61. Following the completion of the sale, the director now directly owns 77,887 shares in the company, valued at approximately $19,495,894.97. The disclosure for this sale can be found here. Insiders have sold a total of 57,911 shares of company stock worth $14,402,679 in the last three months. 2.56% of the stock is owned by corporate insiders.
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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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