Rice Hall James & Associates LLC Raises Stake in Teleflex Inc. (TFX)
Rice Hall James & Associates LLC increased its position in Teleflex Inc. (NYSE:TFX) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 75,130 shares of the medical technology company’s stock after buying an additional 411 shares during the period. Rice Hall James & Associates LLC owned 0.17% of Teleflex worth $13,321,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Teleflex during the fourth quarter worth $43,143,000. Commonwealth Equity Services Inc raised its position in Teleflex by 4.5% in the first quarter. Commonwealth Equity Services Inc now owns 3,460 shares of the medical technology company’s stock worth $543,000 after buying an additional 150 shares during the period. Aperio Group LLC raised its position in Teleflex by 26.9% in the first quarter. Aperio Group LLC now owns 11,713 shares of the medical technology company’s stock worth $1,839,000 after buying an additional 2,481 shares during the period. Virginia Retirement System acquired a new position in Teleflex during the first quarter worth $1,947,000. Finally, TIAA CREF Investment Management LLC raised its position in Teleflex by 11.0% in the first quarter. TIAA CREF Investment Management LLC now owns 61,326 shares of the medical technology company’s stock worth $9,629,000 after buying an additional 6,091 shares during the period. Institutional investors and hedge funds own 93.77% of the company’s stock.
Teleflex Inc. (NYSE:TFX) traded down 1.14% during mid-day trading on Tuesday, reaching $165.28. 285,039 shares of the company were exchanged. Teleflex Inc. has a one year low of $122.14 and a one year high of $188.79. The stock has a 50-day moving average price of $178.50 and a 200 day moving average price of $169.97. The company has a market capitalization of $7.28 billion, a PE ratio of 29.34 and a beta of 0.83.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, July 28th. The medical technology company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The company had revenue of $473.60 million for the quarter, compared to analysts’ expectations of $468.40 million. Teleflex had a net margin of 14.89% and a return on equity of 15.59%. Teleflex’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. Analysts predict that Teleflex Inc. will post $7.33 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Thursday, August 11th. Teleflex’s payout ratio is 24.11%.
A number of research firms have weighed in on TFX. Leerink Swann raised their price objective on shares of Teleflex from $183.00 to $190.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Jefferies Group raised their price objective on shares of Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Barclays PLC raised their price objective on shares of Teleflex from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Finally, Zacks Investment Research raised shares of Teleflex from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a research note on Wednesday, June 29th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Teleflex currently has an average rating of “Buy” and an average target price of $171.33.
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.
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