Martingale Asset Management L P cut its stake in shares of Teleflex Incorporated (NYSE:TFX) by 62.5% during the second quarter, Holdings Channel reports. The institutional investor owned 7,528 shares of the medical technology company’s stock after selling 12,571 shares during the quarter. Martingale Asset Management L P’s holdings in Teleflex were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new stake in Teleflex in the first quarter worth about $2,014,000. Dean Capital Investments Management LLC acquired a new stake in Teleflex in the first quarter worth about $230,000. Comerica Bank increased its position in Teleflex by 1.1% in the first quarter. Comerica Bank now owns 35,945 shares of the medical technology company’s stock worth $9,692,000 after purchasing an additional 399 shares during the period. Westpac Banking Corp increased its position in Teleflex by 25.8% in the first quarter. Westpac Banking Corp now owns 26,988 shares of the medical technology company’s stock worth $6,881,000 after purchasing an additional 5,536 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in Teleflex by 2.2% in the first quarter. Frontier Capital Management Co. LLC now owns 198,106 shares of the medical technology company’s stock worth $50,513,000 after purchasing an additional 4,218 shares during the period. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Teleflex stock opened at $248.81 on Friday. The stock has a market cap of $11.33 billion, a PE ratio of 26.95, a P/E/G ratio of 1.74 and a beta of 1.20. Teleflex Incorporated has a 1 year low of $203.70 and a 1 year high of $288.78. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.21 and a quick ratio of 1.45.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 2nd. The medical technology company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.06. The company had revenue of $609.87 million during the quarter, compared to analyst estimates of $615.97 million. Teleflex had a return on equity of 17.32% and a net margin of 3.78%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 EPS. equities analysts forecast that Teleflex Incorporated will post 9.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Wednesday, August 15th will be given a $0.34 dividend. The ex-dividend date is Tuesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.55%. Teleflex’s dividend payout ratio is presently 16.19%.

In related news, CFO Thomas E. Powell sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $240.02, for a total value of $1,248,104.00. Following the completion of the transaction, the chief financial officer now directly owns 15,351 shares in the company, valued at approximately $3,684,547.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew A. Krakauer acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was acquired at an average price of $237.56 per share, with a total value of $237,560.00. Following the completion of the transaction, the director now directly owns 1,002 shares in the company, valued at approximately $238,035.12. The disclosure for this purchase can be found here. Insiders sold a total of 74,002 shares of company stock valued at $19,558,163 over the last quarter. 2.56% of the stock is owned by insiders.

A number of analysts recently commented on TFX shares. Morgan Stanley lowered their price objective on Teleflex from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, August 3rd. Needham & Company LLC restated a “buy” rating and set a $293.00 target price (up from $285.00) on shares of Teleflex in a research report on Thursday, May 3rd. ValuEngine lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. TheStreet lowered Teleflex from a “b” rating to a “c+” rating in a research report on Friday, August 3rd. Finally, Deutsche Bank set a $255.00 target price on Teleflex and gave the stock a “hold” rating in a research report on Friday, May 4th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Teleflex currently has a consensus rating of “Buy” and a consensus target price of $281.10.

Teleflex Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.

Further Reading: NASDAQ Stock Market Explained

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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