Investors Sell Teleflex (TFX) on Strength (TFX)

Traders sold shares of Teleflex Incorporated (NYSE:TFX) on strength during trading hours on Wednesday. $10.14 million flowed into the stock on the tick-up and $57.89 million flowed out of the stock on the tick-down, for a money net flow of $47.75 million out of the stock. Of all equities tracked, Teleflex had the 33rd highest net out-flow for the day. Teleflex traded up $2.05 for the day and closed at $251.91

A number of equities analysts recently commented on TFX shares. Deutsche Bank reaffirmed a “buy” rating and issued a $251.00 price objective (up from $238.00) on shares of Teleflex in a research note on Monday, September 18th. Zacks Investment Research raised Teleflex from a “hold” rating to a “buy” rating and set a $261.00 price objective on the stock in a research note on Tuesday, September 12th. Jefferies Group lifted their price objective on Teleflex from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Needham & Company LLC lifted their price objective on Teleflex from $228.00 to $237.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Finally, Stephens reaffirmed a “buy” rating and issued a $270.00 price objective (up from $230.00) on shares of Teleflex in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $274.44.

The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.70 and a current ratio of 4.72. The stock has a market cap of $11,360.52, a P/E ratio of 31.17, a PEG ratio of 2.16 and a beta of 1.09.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.11. Teleflex had a return on equity of 16.27% and a net margin of 12.41%. The firm had revenue of $534.70 million for the quarter, compared to analyst estimates of $522.94 million. During the same period in the previous year, the firm earned $1.80 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. sell-side analysts expect that Teleflex Incorporated will post 8.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, November 14th. Teleflex’s dividend payout ratio (DPR) is presently 24.82%.

In other Teleflex news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $241.88, for a total value of $48,376.00. Following the transaction, the director now directly owns 8,080 shares of the company’s stock, valued at $1,954,390.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Benson Smith sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $258.10, for a total value of $516,200.00. Following the completion of the transaction, the chief executive officer now directly owns 76,634 shares in the company, valued at $19,779,235.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,600 shares of company stock worth $665,076. Insiders own 2.39% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TFX. CIBC Asset Management Inc lifted its stake in Teleflex by 30.4% in the second quarter. CIBC Asset Management Inc now owns 1,782 shares of the medical technology company’s stock valued at $370,000 after buying an additional 415 shares during the period. First Trust Advisors LP increased its holdings in shares of Teleflex by 55.7% during the second quarter. First Trust Advisors LP now owns 74,551 shares of the medical technology company’s stock valued at $15,489,000 after acquiring an additional 26,666 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Teleflex by 8.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,508 shares of the medical technology company’s stock valued at $3,014,000 after acquiring an additional 1,176 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Teleflex by 33.7% during the second quarter. State of Wisconsin Investment Board now owns 38,822 shares of the medical technology company’s stock valued at $8,066,000 after acquiring an additional 9,790 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Teleflex by 38.8% during the second quarter. SG Americas Securities LLC now owns 16,578 shares of the medical technology company’s stock valued at $3,444,000 after acquiring an additional 4,638 shares in the last quarter. 89.31% of the stock is currently owned by hedge funds and other institutional investors.

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About Teleflex

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 operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).

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