Securian Asset Management Inc Reduces Holdings in Teleflex Incorporated (NYSE:TFX)

Securian Asset Management Inc decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,036 shares of the medical technology company’s stock after selling 100 shares during the period. Securian Asset Management Inc’s holdings in Teleflex were worth $1,622,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TFX. Morgan Stanley increased its stake in Teleflex by 73.5% during the 1st quarter. Morgan Stanley now owns 234,904 shares of the medical technology company’s stock worth $97,594,000 after buying an additional 99,537 shares during the period. Janus Henderson Group PLC increased its position in shares of Teleflex by 9.8% in the 1st quarter. Janus Henderson Group PLC now owns 997,221 shares of the medical technology company’s stock worth $414,307,000 after purchasing an additional 89,000 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Teleflex by 96.1% in the 1st quarter. Point72 Asset Management L.P. now owns 142,595 shares of the medical technology company’s stock worth $59,243,000 after purchasing an additional 69,895 shares during the last quarter. BlackRock Inc. increased its position in shares of Teleflex by 1.4% in the 1st quarter. BlackRock Inc. now owns 5,044,963 shares of the medical technology company’s stock worth $2,095,981,000 after purchasing an additional 68,241 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Teleflex in the 1st quarter worth about $27,005,000. 91.38% of the stock is currently owned by hedge funds and other institutional investors.

TFX stock opened at $387.34 on Wednesday. Teleflex Incorporated has a 52-week low of $312.33 and a 52-week high of $449.38. The company’s 50 day simple moving average is $389.48 and its 200-day simple moving average is $402.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.73 and a quick ratio of 1.80. The firm has a market capitalization of $18.13 billion, a P/E ratio of 52.27, a P/E/G ratio of 1.91 and a beta of 1.19.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, July 29th. The medical technology company reported $3.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.87 by $0.48. Teleflex had a net margin of 13.06% and a return on equity of 17.29%. The business had revenue of $713.47 million for the quarter, compared to analyst estimates of $680.85 million. During the same quarter in the previous year, the business earned $1.93 earnings per share. Sell-side analysts predict that Teleflex Incorporated will post 12.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Monday, August 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, August 13th. Teleflex’s payout ratio is presently 12.75%.

Several equities research analysts have recently weighed in on TFX shares. Raymond James started coverage on shares of Teleflex in a research report on Tuesday, September 7th. They issued a “buy” rating and a $440.00 target price for the company. KeyCorp dropped their target price on shares of Teleflex from $448.00 to $439.00 and set an “overweight” rating for the company in a research report on Monday, August 2nd. Jefferies Financial Group started coverage on shares of Teleflex in a research report on Friday, September 10th. They issued a “buy” rating and a $485.00 target price for the company. SVB Leerink boosted their target price on shares of Teleflex from $410.00 to $415.00 and gave the stock a “market perform” rating in a research report on Friday, July 30th. Finally, JMP Securities reaffirmed a “market outperform” rating on shares of Teleflex in a report on Friday, July 30th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $455.80.

In other Teleflex news, CEO Liam Kelly sold 8,987 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $376.32, for a total value of $3,381,987.84. Following the completion of the sale, the chief executive officer now directly owns 34,762 shares of the company’s stock, valued at $13,081,635.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen K. M.D. Klasko sold 3,564 shares of the business’s stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $422.55, for a total transaction of $1,505,968.20. Following the completion of the sale, the director now directly owns 4,988 shares of the company’s stock, valued at $2,107,679.40. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.

Teleflex Profile

Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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