State of Alaska Department of Revenue cut its holdings in Teleflex Incorporated (NYSE:TFX) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,429 shares of the medical technology company’s stock after selling 155 shares during the period. State of Alaska Department of Revenue’s holdings in Teleflex were worth $2,458,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in Teleflex in the 1st quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new position in Teleflex in the 1st quarter worth approximately $31,000. Quadrant Capital Group LLC boosted its holdings in Teleflex by 82.8% in the 1st quarter. Quadrant Capital Group LLC now owns 117 shares of the medical technology company’s stock worth $33,000 after buying an additional 53 shares during the period. Icon Wealth Partners LLC bought a new position in Teleflex in the 1st quarter worth approximately $37,000. Finally, Financial Gravity Wealth Inc. bought a new position in Teleflex in the 1st quarter worth approximately $52,000. 91.46% of the stock is owned by institutional investors.
Several research firms recently commented on TFX. Needham & Company LLC reaffirmed a “buy” rating and issued a $403.00 price objective (up from $325.00) on shares of Teleflex in a report on Friday. Barclays increased their target price on shares of Teleflex from $287.00 to $309.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Raymond James increased their target price on shares of Teleflex from $350.00 to $420.00 and gave the stock a “strong-buy” rating in a research note on Friday. Morgan Stanley increased their target price on shares of Teleflex from $345.00 to $392.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Zacks Investment Research cut shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $358.38.
NYSE TFX traded down $0.22 on Friday, hitting $361.35. The stock had a trading volume of 427,672 shares, compared to its average volume of 201,055. Teleflex Incorporated has a 52-week low of $226.02 and a 52-week high of $366.79. The company has a quick ratio of 1.41, a current ratio of 2.52 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $16.69 billion, a P/E ratio of 36.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. The business has a 50-day moving average of $335.63.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 1st. The medical technology company reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.59 by $0.07. The business had revenue of $652.50 million for the quarter, compared to analysts’ expectations of $637.06 million. Teleflex had a net margin of 10.78% and a return on equity of 18.57%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.47 EPS. Equities research analysts expect that Teleflex Incorporated will post 11.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, August 14th. Teleflex’s dividend payout ratio (DPR) is currently 13.74%.
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.
See Also: Cost of Goods Sold (COGS)
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