Teleflex Incorporated (NYSE:TFX) Stake Decreased by State of Tennessee Treasury Department

State of Tennessee Treasury Department reduced its holdings in Teleflex Incorporated (NYSE:TFX) by 53.1% during the first quarter, Holdings Channel reports. The institutional investor owned 11,514 shares of the medical technology company’s stock after selling 13,043 shares during the quarter. State of Tennessee Treasury Department’s holdings in Teleflex were worth $3,479,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in Teleflex by 0.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,256 shares of the medical technology company’s stock valued at $2,393,000 after purchasing an additional 54 shares during the period. BB&T Securities LLC lifted its position in Teleflex by 86.0% during the 4th quarter. BB&T Securities LLC now owns 2,883 shares of the medical technology company’s stock valued at $745,000 after purchasing an additional 1,333 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Teleflex by 30.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,270 shares of the medical technology company’s stock valued at $328,000 after purchasing an additional 294 shares during the period. Harfst & Associates Inc. acquired a new position in Teleflex during the 4th quarter valued at about $489,000. Finally, South Dakota Investment Council lifted its position in Teleflex by 15.6% during the 4th quarter. South Dakota Investment Council now owns 5,200 shares of the medical technology company’s stock valued at $1,344,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Shares of NYSE:TFX opened at $321.00 on Friday. The company has a market capitalization of $14.58 billion, a P/E ratio of 32.42, a PEG ratio of 2.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.41 and a current ratio of 2.27. Teleflex Incorporated has a fifty-two week low of $226.02 and a fifty-two week high of $321.68.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The business had revenue of $613.60 million for the quarter, compared to the consensus estimate of $608.27 million. Teleflex had a net margin of 7.50% and a return on equity of 18.62%. Teleflex’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company posted $2.15 EPS. On average, analysts forecast that Teleflex Incorporated will post 11.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.42%. Teleflex’s dividend payout ratio is 13.74%.

A number of research analysts have issued reports on the stock. Wells Fargo & Co assumed coverage on shares of Teleflex in a research report on Tuesday. They set an “outperform” rating and a $345.00 target price on the stock. UBS Group upped their target price on shares of Teleflex to $350.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James upped their target price on shares of Teleflex from $320.00 to $348.00 and gave the company a “strong-buy” rating in a research report on Wednesday, March 27th. Barclays upped their target price on shares of Teleflex from $287.00 to $309.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Zacks Investment Research upgraded shares of Teleflex from a “hold” rating to a “buy” rating and set a $338.00 target price on the stock in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $330.00.

In related news, VP Cameron P. Hicks sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $298.14, for a total value of $447,210.00. Following the sale, the vice president now directly owns 6,876 shares in the company, valued at approximately $2,050,010.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benson Smith sold 8,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $305.83, for a total transaction of $2,599,555.00. Following the completion of the sale, the director now owns 84,913 shares in the company, valued at $25,968,942.79. The disclosure for this sale can be found here. Insiders sold a total of 44,400 shares of company stock worth $13,235,810 over the last quarter. 2.36% of the stock is currently owned by corporate insiders.

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Teleflex Company Profile

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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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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