Retirement Systems of Alabama cut its holdings in Teleflex Incorporated (NYSE:TFX) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,247 shares of the medical technology company’s stock after selling 1,276 shares during the quarter. Retirement Systems of Alabama’s holdings in Teleflex were worth $6,879,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Reilly Financial Advisors LLC purchased a new stake in Teleflex in the second quarter worth about $25,000. Orrstown Financial Services Inc. purchased a new stake in Teleflex in the third quarter worth about $35,000. Harvest Fund Management Co. Ltd purchased a new stake in Teleflex in the second quarter worth about $46,000. CSat Investment Advisory L.P. lifted its stake in Teleflex by 97.4% in the second quarter. CSat Investment Advisory L.P. now owns 150 shares of the medical technology company’s stock worth $50,000 after acquiring an additional 74 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in Teleflex in the second quarter worth about $52,000. 90.63% of the stock is owned by institutional investors.
In other news, Director Benson Smith sold 8,500 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $340.00, for a total transaction of $2,890,000.00. Following the transaction, the director now owns 57,309 shares in the company, valued at $19,485,060. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John Deren sold 2,004 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 owns 3,046 shares in the company, valued at approximately $1,111,972.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,085 shares of company stock worth $25,152,672. Corporate insiders own 2.36% of the company’s stock.
TFX stock opened at $334.95 on Thursday. Teleflex Incorporated has a one year low of $226.02 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.44 and a current ratio of 2.33. The firm has a market cap of $16.14 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 2.20 and a beta of 0.96. The firm has a 50-day simple moving average of $332.11 and a two-hundred day simple moving average of $328.42.
Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $2.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $648.32 million for the quarter, compared to the consensus estimate of $643.20 million. During the same quarter in the prior year, the company posted $2.52 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that Teleflex Incorporated will post 11.08 earnings per share for the current fiscal year.
Several analysts have commented on TFX shares. ValuEngine lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Morgan Stanley increased their price target 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. Barclays set a $365.00 price target on shares of Teleflex and gave the company a “hold” rating in a research report on Friday, November 1st. Raymond James decreased their price target 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. Finally, Leerink Swann set a $405.00 price target on shares of Teleflex and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $381.30.
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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