New Mexico Educational Retirement Board lessened its position in Teleflex Incorporated (NYSE:TFX) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,900 shares of the medical technology company’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in Teleflex were worth $849,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. increased its stake in Teleflex by 8.3% in the first quarter. BlackRock Inc. now owns 4,652,821 shares of the medical technology company’s stock valued at $1,362,626,000 after purchasing an additional 357,882 shares in the last quarter. State Street Corp increased its stake in Teleflex by 0.4% in the first quarter. State Street Corp now owns 1,914,980 shares of the medical technology company’s stock valued at $560,821,000 after purchasing an additional 7,754 shares in the last quarter. Geode Capital Management LLC increased its stake in Teleflex by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 724,461 shares of the medical technology company’s stock valued at $272,155,000 after purchasing an additional 36,266 shares in the last quarter. William Blair Investment Management LLC increased its stake in Teleflex by 2.3% in the first quarter. William Blair Investment Management LLC now owns 702,708 shares of the medical technology company’s stock valued at $205,795,000 after purchasing an additional 15,725 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Teleflex by 70.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 574,834 shares of the medical technology company’s stock valued at $216,390,000 after acquiring an additional 237,080 shares during the last quarter. 91.17% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on TFX. Raymond James raised their target price on shares of Teleflex from $360.00 to $400.00 and gave the company a “strong-buy” rating in a report on Friday, May 1st. UBS Group cut their target price on shares of Teleflex from $440.00 to $410.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Co lifted their price objective on shares of Teleflex from $365.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. SVB Leerink lifted their price objective on shares of Teleflex from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, Stephens lowered their price objective on shares of Teleflex from $425.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, March 23rd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Teleflex has a consensus rating of “Buy” and a consensus target price of $383.40.

In other news, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $342.26, for a total transaction of $68,452.00. Following the completion of the sale, the director now owns 938 shares of the company’s stock, valued at $321,039.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO John Deren sold 1,093 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $330.10, for a total value of $360,799.30. Following the sale, the chief accounting officer now directly owns 1,253 shares of the company’s stock, valued at approximately $413,615.30. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

TFX stock opened at $355.44 on Tuesday. The company has a current ratio of 3.60, a quick ratio of 2.38 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $357.60 and its 200 day moving average is $350.24. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.70 and a beta of 0.99. Teleflex Incorporated has a 1-year low of $221.27 and a 1-year high of $398.65.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.42. The company had revenue of $630.60 million for the quarter, compared to analysts’ expectations of $609.07 million. Teleflex had a net margin of 21.12% and a return on equity of 18.96%. Teleflex’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.24 earnings per share. As a group, sell-side analysts forecast that Teleflex Incorporated will post 10.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, May 14th. Teleflex’s payout ratio is currently 12.20%.

About Teleflex

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: How To Calculate Debt-to-Equity Ratio

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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