World Asset Management Inc Raises Stake in Teleflex Incorporated (TFX)
World Asset Management Inc raised its stake in Teleflex Incorporated (NYSE:TFX) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,841 shares of the medical technology company’s stock after buying an additional 162 shares during the period. World Asset Management Inc’s holdings in Teleflex were worth $550,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of TFX. Asset Planning Services Ltd. acquired a new position in shares of Teleflex during the first quarter valued at about $116,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Teleflex during the first quarter valued at about $155,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Teleflex by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,267 shares of the medical technology company’s stock valued at $213,000 after buying an additional 160 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Teleflex by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,175 shares of the medical technology company’s stock valued at $213,000 after buying an additional 35 shares during the last quarter. Finally, Independence Advisors LLC acquired a new position in shares of Teleflex during the first quarter valued at about $215,000. Institutional investors own 93.02% of the company’s stock.
Teleflex Incorporated (NYSE:TFX) traded down 0.54% during midday trading on Friday, reaching $200.24. The company’s stock had a trading volume of 4,735 shares. Teleflex Incorporated has a 12-month low of $136.53 and a 12-month high of $211.21. The stock has a market cap of $9.01 billion, a P/E ratio of 41.56 and a beta of 0.93. The stock’s 50 day moving average is $198.84 and its 200 day moving average is $177.70.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, May 4th. The medical technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.11. The business had revenue of $487.90 million for the quarter, compared to analysts’ expectations of $472.81 million. Teleflex had a return on equity of 15.66% and a net margin of 15.09%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Analysts anticipate that Teleflex Incorporated will post $8.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, May 11th. Teleflex’s dividend payout ratio is currently 23.49%.
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Several research analysts recently issued reports on the stock. Jefferies Group LLC set a $205.00 price target on shares of Teleflex and gave the stock a “buy” rating in a research note on Saturday, March 25th. Deutsche Bank AG increased their price target on shares of Teleflex from $192.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, March 15th. Zacks Investment Research upgraded shares of Teleflex from a “hold” rating to a “buy” rating and set a $223.00 price target for the company in a research note on Wednesday. Needham & Company LLC assumed coverage on shares of Teleflex in a research note on Monday, March 6th. They issued a “buy” rating and a $221.00 price target for the company. Finally, Barclays PLC reiterated a “buy” rating and issued a $205.00 price target on shares of Teleflex in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $209.00.
In other news, VP John Deren sold 2,246 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $194.07, for a total transaction of $435,881.22. Following the completion of the sale, the vice president now directly owns 3,989 shares of the company’s stock, valued at approximately $774,145.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen K. M.D. Klasko sold 5,200 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $193.56, for a total value of $1,006,512.00. Following the sale, the director now directly owns 12,880 shares of the company’s stock, valued at $2,493,052.80. The disclosure for this sale can be found here. 2.15% of the stock is owned by company insiders.
Teleflex Company Profile
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 operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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