Conestoga Capital Advisors LLC boosted its position in Teleflex Incorporated (NYSE:TFX) by 36.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,208 shares of the medical technology company’s stock after purchasing an additional 2,708 shares during the period. Conestoga Capital Advisors LLC’s holdings in Teleflex were worth $2,470,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Investors Inc. PA increased its holdings in Teleflex by 65.4% in the 2nd quarter. Federated Investors Inc. PA now owns 38,160 shares of the medical technology company’s stock worth $7,928,000 after purchasing an additional 15,091 shares in the last quarter. Legal & General Group Plc increased its holdings in Teleflex by 25.6% in the 2nd quarter. Legal & General Group Plc now owns 85,403 shares of the medical technology company’s stock worth $17,734,000 after purchasing an additional 17,403 shares in the last quarter. Clinton Group Inc. acquired a new position in Teleflex in the 2nd quarter worth about $325,000. Creative Planning increased its holdings in Teleflex by 69.5% in the 2nd quarter. Creative Planning now owns 3,828 shares of the medical technology company’s stock worth $795,000 after purchasing an additional 1,569 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in Teleflex by 2.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,482 shares of the medical technology company’s stock worth $723,000 after purchasing an additional 90 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.
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Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.12. The firm had revenue of $534.70 million for the quarter, compared to the consensus estimate of $522.94 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.80 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. Teleflex’s dividend payout ratio is currently 26.00%.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of Teleflex stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $241.88, for a total value of $48,376.00. Following the transaction, the director now owns 8,080 shares in the company, valued at $1,954,390.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.39% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut Teleflex from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Stephens reaffirmed a “buy” rating and issued a $270.00 target price (up previously from $230.00) on shares of Teleflex in a report on Monday, September 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $251.00 target price (up previously from $238.00) on shares of Teleflex in a report on Monday, September 18th. Barclays PLC reaffirmed an “overweight” rating and issued a $253.00 target price (up previously from $230.00) on shares of Teleflex in a report on Tuesday, September 12th. Finally, Leerink Swann raised Teleflex from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $227.00 to $266.00 in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $260.75.
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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