Sumitomo Mitsui Trust Holdings Inc. Has $26.30 Million Stake in Teleflex Incorporated (TFX)
Sumitomo Mitsui Trust Holdings Inc. increased its stake in Teleflex Incorporated (NYSE:TFX) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,601 shares of the medical technology company’s stock after buying an additional 1,416 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Teleflex worth $26,303,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. increased its position in 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Teleflex by 0.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,553 shares of the medical technology company’s stock valued at $1,270,000 after buying an additional 37 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Teleflex by 0.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,560 shares of the medical technology company’s stock valued at $1,271,000 after buying an additional 38 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in Teleflex by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 3,482 shares of the medical technology company’s stock valued at $723,000 after buying an additional 90 shares in the last quarter. Finally, World Asset Management Inc increased its position in Teleflex by 3.6% in the second quarter. World Asset Management Inc now owns 2,942 shares of the medical technology company’s stock valued at $611,000 after buying an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.
Teleflex Incorporated (TFX) opened at 207.58 on Thursday. Teleflex Incorporated has a one year low of $136.53 and a one year high of $217.97. The stock has a market cap of $9.35 billion, a P/E ratio of 39.70 and a beta of 1.05. The company’s 50-day moving average price is $210.33 and its 200-day moving average price is $199.98.
Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.91 by $0.13. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm had revenue of $528.60 million for the quarter, compared to analyst estimates of $518.98 million. During the same period in the prior year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Teleflex Incorporated will post $8.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, August 11th. Teleflex’s payout ratio is currently 26.00%.
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Several research firms have recently commented on TFX. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Thursday. Leerink Swann lifted their price objective on Teleflex from $215.00 to $220.00 and gave the stock a “market perform” rating in a report on Friday, June 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $253.00 price objective (up previously from $230.00) on shares of Teleflex in a report on Wednesday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $224.00 price objective on shares of Teleflex in a report on Friday, May 5th. Finally, BidaskClub downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $228.83.
In related news, Director Stuart A. Randle sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $205.67, for a total transaction of $514,175.00. Following the sale, the director now directly owns 7,532 shares of the company’s stock, valued at approximately $1,549,106.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $208.10, for a total transaction of $41,620.00. Following the sale, the director now directly owns 8,080 shares in the company, valued at $1,681,448. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,900 shares of company stock worth $597,477. 2.39% of the stock is owned by insiders.
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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