BlackRock Inc. Increases Stock Position in Teleflex Incorporated (NYSE:TFX)

BlackRock Inc. increased its position in Teleflex Incorporated (NYSE:TFX) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,044,235 shares of the medical technology company’s stock after purchasing an additional 259,880 shares during the quarter. BlackRock Inc. owned 8.75% of Teleflex worth $1,339,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Reilly Financial Advisors LLC bought a new position in Teleflex during the 2nd quarter valued at $25,000. Harvest Fund Management Co. Ltd bought a new position in Teleflex during the 2nd quarter valued at $46,000. CSat Investment Advisory L.P. boosted its stake in Teleflex by 97.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 150 shares of the medical technology company’s stock valued at $50,000 after acquiring an additional 74 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Teleflex during the 2nd quarter valued at $52,000. Finally, FTB Advisors Inc. bought a new position in Teleflex during the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Teleflex stock opened at $334.95 on Thursday. The firm’s 50-day moving average is $332.11 and its 200-day moving average is $328.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.44 and a current ratio of 2.33. Teleflex Incorporated has a 1 year low of $226.02 and a 1 year high of $373.90. The company has a market cap of $16.00 billion, a P/E ratio of 33.83, a PEG ratio of 2.24 and a beta of 0.96.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, October 31st. The medical technology company reported $2.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.22. Teleflex had a net margin of 17.36% and a return on equity of 18.81%. The company had revenue of $648.32 million for the quarter, compared to the consensus estimate of $643.20 million. During the same period last year, the firm posted $2.52 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Teleflex Incorporated will post 11.08 earnings per share for the current year.

In other news, CFO Thomas E. Powell sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $355.52, for a total value of $2,666,400.00. Following the transaction, the chief financial officer now directly owns 18,197 shares in the company, valued at approximately $6,469,397.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Benson Smith sold 8,481 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $345.37, for a total transaction of $2,929,082.97. Following the completion of the transaction, the director now owns 57,290 shares in the company, valued at $19,786,247.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,085 shares of company stock worth $25,152,672. Insiders own 2.36% of the company’s stock.

A number of research analysts have commented on the stock. Raymond James reduced their price objective on shares of Teleflex from $420.00 to $415.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 7th. Svb Leerink increased their price objective on shares of Teleflex from $395.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Leerink Swann set a $405.00 price objective on shares of Teleflex and gave the company a “buy” rating in a research note on Wednesday, September 4th. JMP Securities increased their price objective on shares of Teleflex from $325.00 to $395.00 and gave the company a “market outperform” rating in a research note on Monday, August 5th. Finally, ValuEngine downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Teleflex currently has a consensus rating of “Buy” and a consensus price target of $381.30.

Teleflex 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.

Further Reading: Death Cross

Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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