Vanguard Group Inc. increased its stake in shares of Teleflex Inc. (NYSE:TFX) by 10.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,322,782 shares of the medical technology company’s stock after buying an additional 306,432 shares during the period. Vanguard Group Inc. owned approximately 7.55% of Teleflex worth $589,162,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its stake in Teleflex by 6.5% in the second quarter. Huntington National Bank now owns 820 shares of the medical technology company’s stock valued at $145,000 after buying an additional 50 shares during the period. Checchi Capital Advisers LLC boosted its stake in Teleflex by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 837 shares of the medical technology company’s stock valued at $148,000 after buying an additional 7 shares during the period. Welch & Forbes LLC bought a new stake in Teleflex during the second quarter valued at approximately $204,000. Broderick Brian C bought a new stake in Teleflex during the second quarter valued at approximately $207,000. Finally, Barton Investment Management bought a new stake in Teleflex during the second quarter valued at approximately $212,000. 93.77% of the stock is currently owned by institutional investors and hedge funds.
Teleflex Inc. (NYSE:TFX) opened at 168.05 on Friday. Teleflex Inc. has a 12 month low of $122.14 and a 12 month high of $188.79. The stock’s 50 day moving average is $178.91 and its 200-day moving average is $169.49. The company has a market capitalization of $7.40 billion, a PE ratio of 29.83 and a beta of 0.83.
Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, July 28th. The medical technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Teleflex had a net margin of 14.89% and a return on equity of 15.59%. The company earned $473.60 million during the quarter, compared to analyst estimates of $468.40 million. During the same period last year, the business earned $1.42 earnings per share. Teleflex’s revenue was up 4.8% compared to the same quarter last year. On average, analysts expect that Teleflex Inc. will post $7.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a $0.34 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.81%. Teleflex’s dividend payout ratio (DPR) is currently 24.11%.
Several research firms have recently commented on TFX. Leerink Swann increased their price target on shares of Teleflex from $183.00 to $190.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Jefferies Group raised their price objective on shares of Teleflex from $157.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Barclays PLC raised their price objective on shares of Teleflex from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Finally, Zacks Investment Research raised shares of Teleflex from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a research note on Wednesday, June 29th. Two investment 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. Teleflex has a consensus rating of “Buy” and an average price target of $171.33.
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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