Inverness Counsel LLC NY Decreases Holdings in Teleflex Incorporated (NYSE:TFX)

Inverness Counsel LLC NY trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 37.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,609 shares of the medical technology company’s stock after selling 2,193 shares during the quarter. Inverness Counsel LLC NY’s holdings in Teleflex were worth $1,450,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its holdings in Teleflex by 21.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 17,818 shares of the medical technology company’s stock valued at $5,384,000 after purchasing an additional 3,173 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Teleflex by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 211,510 shares of the medical technology company’s stock valued at $87,046,000 after purchasing an additional 9,262 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Teleflex by 19.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 32,166 shares of the medical technology company’s stock valued at $13,363,000 after purchasing an additional 5,282 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Teleflex by 7.0% during the 1st quarter. IFM Investors Pty Ltd now owns 4,793 shares of the medical technology company’s stock valued at $1,991,000 after purchasing an additional 315 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in Teleflex by 0.8% during the 1st quarter. Congress Asset Management Co. MA now owns 26,334 shares of the medical technology company’s stock valued at $10,941,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 91.38% of the company’s stock.

NYSE:TFX traded up $2.45 during midday trading on Wednesday, reaching $389.79. 494 shares of the stock traded hands, compared to its average volume of 252,849. Teleflex Incorporated has a 12-month low of $312.33 and a 12-month high of $449.38. The business has a 50-day moving average of $389.48 and a two-hundred day moving average of $402.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.80 and a current ratio of 2.73. The stock has a market capitalization of $18.24 billion, a PE ratio of 52.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, July 29th. The medical technology company reported $3.35 EPS for the quarter, beating the Zacks’ consensus estimate of $2.87 by $0.48. The company had revenue of $713.47 million during the quarter, compared to analysts’ expectations of $680.85 million. Teleflex had a net margin of 13.06% and a return on equity of 17.29%. During the same quarter in the prior year, the company posted $1.93 earnings per share. Research analysts anticipate that Teleflex Incorporated will post 12.97 earnings per share for the current year.

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

Several equities analysts recently commented on the stock. Needham & Company LLC began coverage on shares of Teleflex in a report on Friday, July 9th. They set a “buy” rating and a $486.00 price target on the stock. Raymond James began coverage on shares of Teleflex in a research note on Tuesday, September 7th. They issued a “buy” rating and a $440.00 target price on the stock. SVB Leerink upped their target price on shares of Teleflex from $410.00 to $415.00 and gave the stock a “market perform” rating in a research note on Friday, July 30th. JMP Securities restated a “market outperform” rating on shares of Teleflex in a research note on Friday, July 30th. Finally, KeyCorp dropped their target price on shares of Teleflex from $448.00 to $439.00 and set an “overweight” rating on the stock in a research note on Monday, August 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $455.80.

In other news, Director Stephen K. M.D. Klasko sold 3,564 shares of Teleflex stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $422.55, for a total value of $1,505,968.20. Following the sale, the director now owns 4,988 shares in the company, valued at $2,107,679.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Liam Kelly sold 8,987 shares of Teleflex stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $376.32, for a total transaction of $3,381,987.84. Following the completion of the sale, the chief executive officer now owns 34,762 shares in the company, valued at approximately $13,081,635.84. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.

About Teleflex

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.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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