Balyasny Asset Management LLC Has $3.33 Million Stake in Teleflex Incorporated (TFX)
Balyasny Asset Management LLC grew its position in Teleflex Incorporated (NYSE:TFX) by 245.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,019 shares of the medical technology company’s stock after purchasing an additional 11,387 shares during the quarter. Balyasny Asset Management LLC’s holdings in Teleflex were worth $3,328,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp raised its holdings in shares of Teleflex by 0.6% in the 2nd quarter. Stifel Financial Corp now owns 5,399 shares of the medical technology company’s stock valued at $1,121,000 after purchasing an additional 31 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Teleflex by 39.2% in the 2nd quarter. Voya Investment Management LLC now owns 19,566 shares of the medical technology company’s stock valued at $4,065,000 after purchasing an additional 5,510 shares in the last quarter. Suntrust Banks Inc. raised its holdings in shares of Teleflex by 2.5% in the 2nd quarter. Suntrust Banks Inc. now owns 10,312 shares of the medical technology company’s stock valued at $2,142,000 after purchasing an additional 254 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Teleflex by 37.3% in the 2nd quarter. Citigroup Inc. now owns 10,062 shares of the medical technology company’s stock valued at $2,091,000 after purchasing an additional 2,731 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Teleflex by 14.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 106,993 shares of the medical technology company’s stock valued at $22,229,000 after purchasing an additional 13,878 shares in the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.
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Teleflex Incorporated (TFX) opened at 240.42 on Wednesday. Teleflex Incorporated has a 52-week low of $136.53 and a 52-week high of $248.68. The company has a 50 day moving average of $230.32 and a 200-day moving average of $210.29. The stock has a market capitalization of $10.83 billion, a P/E ratio of 45.98 and a beta of 1.07.
Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.13. The firm had revenue of $528.60 million for the quarter, compared to analysts’ expectations of $518.98 million. Teleflex had a net margin of 12.36% and a return on equity of 16.12%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. Equities research analysts anticipate that Teleflex Incorporated will post $8.28 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were issued a $0.34 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.57%. Teleflex’s dividend payout ratio is presently 26.00%.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $211.75, for a total value of $42,350.00. Following the sale, the director now directly owns 8,080 shares of the company’s stock, valued at $1,710,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 600 shares of company stock worth $132,408 over the last ninety days. 2.39% of the stock is currently owned by corporate insiders.
TFX has been the topic of a number of analyst reports. Morgan Stanley upgraded shares of Teleflex from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $220.00 to $274.00 in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Teleflex from a “hold” rating to a “buy” rating and set a $261.00 price objective on the stock in a report on Tuesday, September 12th. Jefferies Group LLC raised their price objective on shares of Teleflex from $253.00 to $270.00 and gave the company a “buy” rating in a report on Friday, September 8th. Barclays PLC restated a “buy” rating on shares of Teleflex in a report on Monday, June 26th. Finally, Needham & Company LLC raised their price objective on shares of Teleflex from $228.00 to $237.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $260.75.
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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