Teleflex Incorporated (TFX) Stake Reduced by USS Investment Management Ltd
USS Investment Management Ltd decreased its stake in Teleflex Incorporated (NYSE:TFX) by 15.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 399,990 shares of the medical technology company’s stock after selling 75,000 shares during the period. USS Investment Management Ltd owned about 0.89% of Teleflex worth $83,104,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Teleflex during the first quarter valued at approximately $155,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Teleflex by 200.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 900 shares of the medical technology company’s stock valued at $174,000 after buying an additional 600 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Teleflex during the second quarter valued at approximately $200,000. Harvey Capital Management Inc. purchased a new position in Teleflex during the second quarter valued at approximately $207,000. Finally, Advisor Partners LLC purchased a new position in Teleflex during the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
Teleflex Incorporated (TFX) traded down 0.32% on Friday, reaching $207.01. The company’s stock had a trading volume of 123,039 shares. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 39.59 and a beta of 1.05. Teleflex Incorporated has a 52 week low of $136.53 and a 52 week high of $217.97. The firm’s 50 day moving average price is $210.33 and its 200-day moving average price is $199.98.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.13. The company had revenue of $528.60 million for the quarter, compared to the consensus estimate of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 earnings per share. On average, equities analysts predict that Teleflex Incorporated will post $8.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, August 11th. Teleflex’s payout ratio is 26.00%.
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TFX has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $224.00 price target on shares of Teleflex in a research report on Friday, May 5th. Deutsche Bank AG lifted their price target on Teleflex from $213.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 8th. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Leerink Swann lifted their price target on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a research report on Friday, June 9th. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Teleflex in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $228.83.
In other Teleflex news, Director Gretchen R. Haggerty bought 1,000 shares of Teleflex stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $203.82 per share, with a total value of $203,820.00. Following the acquisition, the director now directly owns 1,760 shares of the company’s stock, valued at $358,723.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stuart A. Randle sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total value of $514,175.00. Following the completion of the transaction, the director now directly owns 7,532 shares in the company, valued at $1,549,106.44. The disclosure for this sale can be found here. Insiders have sold 3,100 shares of company stock worth $637,463 over the last ninety days. Company insiders own 2.39% of the company’s stock.
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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