Conestoga Capital Advisors LLC reduced its stake in shares of Teleflex Incorporated (NYSE:TFX) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the medical technology company’s stock after selling 50 shares during the period. Conestoga Capital Advisors LLC’s holdings in Teleflex were worth $1,558,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Oakbrook Investments LLC bought a new position in shares of Teleflex during the second quarter valued at $348,000. Sheets Smith Wealth Management bought a new position in shares of Teleflex during the second quarter valued at $553,000. State Treasurer State of Michigan raised its position in shares of Teleflex by 1.6% in the second quarter. State Treasurer State of Michigan now owns 18,530 shares of the medical technology company’s stock valued at $3,850,000 after buying an additional 300 shares during the last quarter. Harvey Capital Management Inc. bought a new position in shares of Teleflex during the second quarter valued at $207,000. Finally, Aperio Group LLC raised its position in shares of Teleflex by 20.2% in the second quarter. Aperio Group LLC now owns 13,028 shares of the medical technology company’s stock valued at $2,707,000 after buying an additional 2,189 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.
Shares of Teleflex Incorporated (NYSE:TFX) traded down 0.59% on Friday, reaching $210.66. 174,889 shares of the company were exchanged. The firm has a market capitalization of $9.49 billion, a PE ratio of 40.29 and a beta of 1.05. The stock’s 50-day moving average is $210.06 and its 200 day moving average is $198.54. Teleflex Incorporated has a 12-month low of $136.53 and a 12-month high of $217.97.
Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.13. The business had revenue of $528.60 million during the quarter, compared to analyst estimates of $518.98 million. Teleflex had a return on equity of 16.12% and a net margin of 12.36%. Teleflex’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. On average, analysts forecast that Teleflex Incorporated will post $8.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, August 11th. Teleflex’s dividend payout ratio is currently 26.00%.
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Several brokerages have recently weighed in on TFX. Deutsche Bank AG reissued a “buy” rating and issued a $238.00 price objective (up from $220.00) on shares of Teleflex in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $253.00 price objective (up from $230.00) on shares of Teleflex in a research report on Wednesday, August 9th. BidaskClub lowered shares of Teleflex from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Needham & Company LLC reaffirmed a “buy” rating on shares of Teleflex in a research report on Friday, August 4th. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Teleflex in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $228.00.
In other news, Director Stuart A. Randle sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $205.67, for a total transaction of $514,175.00. Following the completion of the sale, the director now owns 7,532 shares of the company’s stock, valued at $1,549,106.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $199.93, for a total value of $39,986.00. Following the sale, the director now directly owns 8,080 shares of the company’s stock, valued at approximately $1,615,434.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,100 shares of company stock valued at $637,463. 2.39% of the stock is owned by insiders.
Teleflex Company Profile
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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