Zurich Insurance Group Ltd FI Takes $876,000 Position in Teleflex Incorporated (TFX)
Zurich Insurance Group Ltd FI acquired a new position in Teleflex Incorporated (NYSE:TFX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,215 shares of the medical technology company’s stock, valued at approximately $876,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFX. Marshall Wace North America L.P. increased its holdings in shares of Teleflex by 137.4% in the second quarter. Marshall Wace North America L.P. now owns 518,462 shares of the medical technology company’s stock worth $107,840,000 after buying an additional 300,069 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Teleflex by 93.5% in the second quarter. Principal Financial Group Inc. now owns 610,398 shares of the medical technology company’s stock worth $126,816,000 after buying an additional 294,935 shares during the period. FMR LLC increased its holdings in shares of Teleflex by 46.5% in the first quarter. FMR LLC now owns 811,764 shares of the medical technology company’s stock worth $157,263,000 after buying an additional 257,649 shares during the period. American Century Companies Inc. increased its holdings in shares of Teleflex by 22.8% in the second quarter. American Century Companies Inc. now owns 839,080 shares of the medical technology company’s stock worth $174,327,000 after buying an additional 155,863 shares during the period. Finally, Copper Rock Capital Partners LLC purchased a new position in shares of Teleflex in the second quarter worth about $21,709,000. Hedge funds and other institutional investors own 89.75% of the company’s stock.
Shares of Teleflex Incorporated (NYSE TFX) opened at 240.42 on Wednesday. The company has a market capitalization of $10.83 billion, a PE ratio of 45.98 and a beta of 1.07. Teleflex Incorporated has a 1-year low of $136.53 and a 1-year high of $248.68. The company has a 50 day moving average price of $230.32 and a 200 day moving average price of $210.29.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share for the quarter, topping the Zacks’ 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 company 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 company posted $1.89 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Teleflex Incorporated will post $8.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, August 11th. Teleflex’s dividend payout ratio (DPR) is currently 26.00%.
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 Wednesday, October 4th. Stephens reiterated a “buy” rating and issued a $270.00 price objective (up previously from $230.00) on shares of Teleflex in a report on Monday, September 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $251.00 price objective (up previously from $238.00) on shares of Teleflex in a report on Monday, September 18th. Barclays PLC reiterated an “overweight” rating and issued a $253.00 price objective (up previously from $230.00) on shares of Teleflex in a report on Tuesday, September 12th. Finally, Leerink Swann upgraded Teleflex from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $227.00 to $266.00 in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Teleflex presently has an average rating of “Buy” and a consensus price target of $260.75.
In related news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction dated 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 approximately $1,710,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 600 shares of company stock worth $132,408 over the last three months. 2.39% of the stock is currently owned by corporate 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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