Brown Advisory Inc. purchased a new position in Teleflex Inc. (NYSE:TFX) during the second quarter, Holdings Channel reports. The fund purchased 3,334 shares of the medical technology company’s stock, valued at approximately $591,000.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Teleflex during the fourth quarter worth $43,143,000. Commonwealth Equity Services Inc boosted its stake in shares of Teleflex by 4.5% in the first quarter. Commonwealth Equity Services Inc now owns 3,460 shares of the medical technology company’s stock worth $543,000 after buying an additional 150 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Teleflex by 26.9% in the first quarter. Aperio Group LLC now owns 11,713 shares of the medical technology company’s stock worth $1,839,000 after buying an additional 2,481 shares during the last quarter. Virginia Retirement System bought a new stake in shares of Teleflex during the first quarter worth $1,947,000. Finally, Pacad Investment Ltd. bought a new stake in shares of Teleflex during the first quarter worth $1,275,000. Institutional investors and hedge funds own 93.77% of the company’s stock.
Shares of Teleflex Inc. (NYSE:TFX) opened at 168.05 on Friday. Teleflex Inc. has a 1-year low of $122.14 and a 1-year high of $188.79. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 29.83 and a beta of 0.83. The stock’s 50 day moving average price is $178.91 and its 200 day moving average price is $169.49.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, July 28th. The medical technology company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The firm had revenue of $473.60 million for the quarter, compared to analysts’ expectations of $468.40 million. Teleflex had a net margin of 14.89% and a return on equity of 15.59%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. Analysts expect that Teleflex Inc. will post $7.33 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.36 annualized dividend and a yield of 0.81%. Teleflex’s dividend payout ratio is currently 24.11%.
Several analysts recently commented on the company. Barclays PLC restated an “overweight” rating and issued a $183.00 target price (up from $170.00) on shares of Teleflex in a research report on Tuesday, June 14th. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $192.00 target price on the stock in a research report on Wednesday, June 29th. Leerink Swann raised their target price on Teleflex from $183.00 to $190.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Finally, Jefferies Group raised their target price on Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $171.33.
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 markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.
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