Los Angeles Capital Management & Equity Research Inc. decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 21.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,485 shares of the medical technology company’s stock after selling 6,766 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.05% of Teleflex worth $6,567,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. TD Asset Management Inc. grew its holdings in shares of Teleflex by 2.3% during the 2nd quarter. TD Asset Management Inc. now owns 142,352 shares of the medical technology company’s stock worth $38,180,000 after acquiring an additional 3,196 shares during the period. Security Asset Management grew its holdings in shares of Teleflex by 4.2% during the 2nd quarter. Security Asset Management now owns 6,935 shares of the medical technology company’s stock worth $1,860,000 after acquiring an additional 282 shares during the period. Mar Vista Investment Partners LLC purchased a new position in shares of Teleflex during the 2nd quarter worth approximately $37,996,000. Parallel Advisors LLC grew its holdings in shares of Teleflex by 200.0% during the 2nd quarter. Parallel Advisors LLC now owns 450 shares of the medical technology company’s stock worth $120,000 after acquiring an additional 300 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in shares of Teleflex by 80.5% during the 2nd quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock worth $223,000 after acquiring an additional 371 shares during the period. Hedge funds and other institutional investors own 89.52% of the company’s stock.
TFX has been the topic of a number of research analyst reports. Leerink Swann upped their target price on Teleflex from $309.00 to $317.00 and gave the stock an “outperform” rating in a report on Tuesday, June 5th. Deutsche Bank set a $255.00 target price on Teleflex and gave the stock a “hold” rating in a report on Friday, May 4th. Needham & Company LLC upped their target price on Teleflex from $293.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, May 15th. Morgan Stanley dropped their price target on Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, August 3rd. Finally, ValuEngine cut Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $281.10.
Shares of TFX opened at $232.06 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.88. Teleflex Incorporated has a 52 week low of $203.13 and a 52 week high of $288.78. The company has a market capitalization of $10.86 billion, a PE ratio of 25.83, a P/E/G ratio of 1.66 and a beta of 1.20.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 2nd. The medical technology company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.06. Teleflex had a return on equity of 17.32% and a net margin of 3.78%. The firm had revenue of $609.87 million for the quarter, compared to analysts’ expectations of $615.97 million. During the same period in the previous year, the firm posted $2.04 EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. analysts forecast that Teleflex Incorporated will post 9.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.59%. Teleflex’s dividend payout ratio is currently 16.19%.
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.
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