Jennison Associates LLC Has $72.82 Million Stake in Teleflex Incorporated (NYSE:TFX)

Jennison Associates LLC trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 29.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,912 shares of the medical technology company’s stock after selling 91,471 shares during the quarter. Jennison Associates LLC owned about 0.48% of Teleflex worth $72,824,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TFX. Janus Henderson Group PLC increased its position in Teleflex by 18.5% during the first quarter. Janus Henderson Group PLC now owns 962,391 shares of the medical technology company’s stock worth $290,796,000 after buying an additional 150,201 shares during the last quarter. First Trust Advisors LP increased its position in Teleflex by 247.5% during the first quarter. First Trust Advisors LP now owns 181,850 shares of the medical technology company’s stock worth $54,948,000 after buying an additional 129,524 shares during the last quarter. Marshall Wace North America L.P. increased its position in Teleflex by 32.2% during the first quarter. Marshall Wace North America L.P. now owns 494,782 shares of the medical technology company’s stock worth $149,502,000 after buying an additional 120,411 shares during the last quarter. C WorldWide Group Holding A S acquired a new position in Teleflex during the second quarter worth $14,902,000. Finally, Northern Trust Corp increased its position in Teleflex by 10.1% during the first quarter. Northern Trust Corp now owns 481,082 shares of the medical technology company’s stock worth $145,364,000 after buying an additional 44,093 shares during the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:TFX traded down $8.22 during midday trading on Friday, hitting $357.94. The company’s stock had a trading volume of 214,304 shares, compared to its average volume of 284,176. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.43 and a beta of 1.02. The stock’s 50 day simple moving average is $350.87 and its 200 day simple moving average is $311.46. Teleflex Incorporated has a fifty-two week low of $226.02 and a fifty-two week high of $373.90. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.59 and a current ratio of 2.52.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 1st. The medical technology company reported $2.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.59 by $0.07. The company had revenue of $652.50 million for the quarter, compared to the consensus estimate of $637.06 million. Teleflex had a return on equity of 18.57% and a net margin of 10.78%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.47 earnings per share. As a group, analysts anticipate that Teleflex Incorporated will post 11.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, August 14th. Teleflex’s dividend payout ratio is currently 13.74%.

In other news, Director Benson Smith sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $296.00, for a total value of $2,516,000.00. Following the sale, the director now directly owns 85,300 shares of the company’s stock, valued at $25,248,800. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cameron P. Hicks sold 700 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $330.70, for a total value of $231,490.00. Following the completion of the sale, the vice president now directly owns 7,076 shares in the company, valued at $2,340,033.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,453 shares of company stock worth $12,516,242. 2.36% of the stock is currently owned by company insiders.

Several equities analysts have commented on TFX shares. JMP Securities increased their target price on shares of Teleflex from $325.00 to $395.00 and gave the stock a “market outperform” rating in a research report on Monday, August 5th. Morgan Stanley raised their price target on Teleflex from $345.00 to $392.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Raymond James raised their price target on Teleflex from $350.00 to $420.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Barclays raised their price target on Teleflex from $309.00 to $356.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $367.67.

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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