Investors Sell Teleflex (TFX) on Strength (TFX)
Traders sold shares of Teleflex Incorporated (NYSE:TFX) on strength during trading hours on Wednesday. $10.14 million flowed into the stock on the tick-up and $57.89 million flowed out of the stock on the tick-down, for a money net flow of $47.75 million out of the stock. Of all equities tracked, Teleflex had the 33rd highest net out-flow for the day. Teleflex traded up $2.05 for the day and closed at $251.91
A number of equities analysts recently commented on TFX shares. Deutsche Bank reaffirmed a “buy” rating and issued a $251.00 price objective (up from $238.00) on shares of Teleflex in a research note on Monday, September 18th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $261.00 price objective on the stock in a research note on Tuesday, September 12th. Jefferies Group lifted their price objective on Teleflex from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Needham & Company LLC lifted their price objective on Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Finally, Stephens reaffirmed a “buy” rating and issued a $270.00 price objective (up from $230.00) on shares of Teleflex in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $274.44.
The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.70 and a current ratio of 4.72. The stock has a market cap of $11,360.52, a P/E ratio of 31.17, a PEG ratio of 2.16 and a beta of 1.09.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is presently 24.82%.
In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $241.88, for a total value of $48,376.00. Following the transaction, the director now directly owns 8,080 shares of the company’s stock, valued at $1,954,390.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Benson Smith sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $258.10, for a total value of $516,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,634 shares in the company, valued at $19,779,235.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,600 shares of company stock worth $665,076. Insiders own 2.39% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of TFX. CIBC Asset Management Inc lifted its stake in Teleflex by 30.4% in the second quarter. CIBC Asset Management Inc now owns 1,782 shares of the medical technology company’s stock valued at $370,000 after buying an additional 415 shares during the period. First Trust Advisors LP increased its holdings in shares of Teleflex by 55.7% during the second quarter. First Trust Advisors LP now owns 74,551 shares of the medical technology company’s stock valued at $15,489,000 after acquiring an additional 26,666 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Teleflex by 8.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,508 shares of the medical technology company’s stock valued at $3,014,000 after acquiring an additional 1,176 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Teleflex by 33.7% during the second quarter. State of Wisconsin Investment Board now owns 38,822 shares of the medical technology company’s stock valued at $8,066,000 after acquiring an additional 9,790 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Teleflex by 38.8% during the second quarter. SG Americas Securities LLC now owns 16,578 shares of the medical technology company’s stock valued at $3,444,000 after acquiring an additional 4,638 shares in the last quarter. 89.31% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This article was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.thecerbatgem.com/2017/12/14/investors-sell-teleflex-tfx-on-strength-tfx.html.
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).
Receive News & Stock Ratings for Teleflex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teleflex and related stocks with our FREE daily email newsletter.