Hsbc Holdings PLC raised its stake in Teleflex Incorporated (NYSE:TFX) by 30.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,961 shares of the medical technology company’s stock after purchasing an additional 1,623 shares during the quarter. Hsbc Holdings PLC’s holdings in Teleflex were worth $1,799,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Teleflex by 2.8% during the third quarter. BlackRock Inc. now owns 4,993,747 shares of the medical technology company’s stock valued at $1,328,788,000 after acquiring an additional 135,484 shares in the last quarter. Atlanta Capital Management Co. L L C raised its holdings in shares of Teleflex by 17.7% during the third quarter. Atlanta Capital Management Co. L L C now owns 2,650,228 shares of the medical technology company’s stock valued at $705,199,000 after acquiring an additional 399,301 shares in the last quarter. FMR LLC raised its holdings in shares of Teleflex by 632.5% during the third quarter. FMR LLC now owns 1,343,305 shares of the medical technology company’s stock valued at $357,440,000 after acquiring an additional 1,159,914 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Teleflex by 52.1% during the third quarter. William Blair Investment Management LLC now owns 955,428 shares of the medical technology company’s stock valued at $254,230,000 after acquiring an additional 327,451 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Teleflex by 7.2% during the fourth quarter. Bank of New York Mellon Corp now owns 589,152 shares of the medical technology company’s stock valued at $152,284,000 after acquiring an additional 39,748 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
In other Teleflex news, CFO Thomas E. Powell sold 5,324 shares of Teleflex stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $242.25, for a total transaction of $1,289,739.00. Following the completion of the sale, the chief financial officer now directly owns 13,775 shares of the company’s stock, valued at approximately $3,336,993.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stuart A. Randle sold 4,000 shares of Teleflex stock in a transaction on Monday, March 11th. The shares were sold at an average price of $290.52, for a total value of $1,162,080.00. Following the sale, the director now directly owns 7,421 shares of the company’s stock, valued at $2,155,948.92. The disclosure for this sale can be found here. Insiders have sold a total of 21,924 shares of company stock valued at $5,828,431 in the last 90 days. 2.56% of the stock is currently owned by company insiders.
NYSE TFX opened at $301.80 on Thursday. Teleflex Incorporated has a 12 month low of $226.02 and a 12 month high of $304.82. The firm has a market capitalization of $13.87 billion, a PE ratio of 30.48, a P/E/G ratio of 2.03 and a beta of 1.06. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 2.12.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, February 21st. The medical technology company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.01. Teleflex had a return on equity of 18.47% and a net margin of 8.20%. The company had revenue of $641.60 million for the quarter, compared to the consensus estimate of $641.06 million. During the same quarter in the prior year, the company earned $2.44 earnings per share. Teleflex’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Teleflex Incorporated will post 11.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, February 28th. Teleflex’s dividend payout ratio is presently 13.74%.
TFX has been the subject of a number of recent analyst reports. TheStreet upgraded Teleflex from a “c+” rating to a “b-” rating in a report on Wednesday, November 28th. UBS Group initiated coverage on Teleflex in a report on Tuesday, November 27th. They set a “buy” rating and a $310.00 target price for the company. Zacks Investment Research upgraded Teleflex from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Barclays set a $287.00 target price on Teleflex and gave the company a “hold” rating in a report on Friday, February 22nd. Finally, Morgan Stanley upped their target price on Teleflex from $295.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Teleflex has an average rating of “Buy” and an average target price of $297.00.
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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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