Cubist Systematic Strategies LLC Sells 638 Shares of Teleflex Incorporated (NYSE:TFX)

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Cubist Systematic Strategies LLC lessened its stake in Teleflex Incorporated (NYSE:TFX) by 39.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 965 shares of the medical technology company’s stock after selling 638 shares during the period. Cubist Systematic Strategies LLC’s holdings in Teleflex were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TFX. BlackRock Inc. raised its position in Teleflex by 6.9% in the 2nd quarter. BlackRock Inc. now owns 4,044,235 shares of the medical technology company’s stock worth $1,339,247,000 after purchasing an additional 259,880 shares during the last quarter. Invesco Ltd. raised its position in shares of Teleflex by 29.3% during the 2nd quarter. Invesco Ltd. now owns 870,117 shares of the medical technology company’s stock valued at $288,139,000 after acquiring an additional 197,426 shares during the last quarter. Marshall Wace LLP raised its position in shares of Teleflex by 26.7% during the 2nd quarter. Marshall Wace LLP now owns 756,383 shares of the medical technology company’s stock valued at $250,476,000 after acquiring an additional 159,606 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Teleflex by 162.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 233,638 shares of the medical technology company’s stock valued at $77,369,000 after acquiring an additional 144,730 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Teleflex by 247.5% during the 1st quarter. First Trust Advisors LP now owns 181,850 shares of the medical technology company’s stock valued at $54,948,000 after acquiring an additional 129,524 shares during the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.

In other news, Director Benson Smith sold 8,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $332.65, for a total value of $2,827,525.00. Following the completion of the transaction, the director now owns 85,300 shares of the company’s stock, valued at approximately $28,375,045. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Deren sold 2,004 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $365.06, for a total transaction of $731,580.24. Following the completion of the transaction, the vice president now directly owns 3,046 shares of the company’s stock, valued at approximately $1,111,972.76. The disclosure for this sale can be found here. Insiders sold a total of 42,104 shares of company stock valued at $14,357,448 in the last three months. 2.36% of the stock is owned by company insiders.

Several analysts have commented on the stock. Raymond James dropped their target price on shares of Teleflex from $420.00 to $415.00 and set a “strong-buy” rating for the company in a research report on Monday, October 7th. Svb Leerink upped their target price on shares of Teleflex from $395.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Needham & Company LLC reiterated a “buy” rating and set a $403.00 target price (up previously from $325.00) on shares of Teleflex in a research report on Friday, August 2nd. JMP Securities upped their target price on shares of Teleflex from $325.00 to $395.00 and gave the company a “market outperform” rating in a research report on Monday, August 5th. Finally, Morgan Stanley upped their target price on shares of Teleflex from $345.00 to $392.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $374.00.

Shares of Teleflex stock opened at $322.09 on Friday. Teleflex Incorporated has a 52 week low of $226.02 and a 52 week high of $373.90. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.59 and a current ratio of 2.52. The firm has a fifty day moving average of $343.73 and a two-hundred day moving average of $324.55.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, August 1st. The medical technology company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.07. Teleflex had a net margin of 10.78% and a return on equity of 18.57%. The company had revenue of $652.50 million during the quarter, compared to analyst estimates of $637.06 million. During the same quarter in the previous year, the business earned $2.47 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts forecast that Teleflex Incorporated will post 11.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Wednesday, August 14th. Teleflex’s dividend payout ratio (DPR) is 13.74%.

About Teleflex

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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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