Thomas E. Powell Sells 5,200 Shares of Teleflex Incorporated (TFX) Stock

Teleflex Incorporated (NYSE:TFX) insider Thomas E. Powell sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $240.00, for a total value of $1,248,000.00. Following the sale, the insider now directly owns 15,351 shares in the company, valued at $3,684,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of TFX stock opened at $263.49 on Friday. Teleflex Incorporated has a 12-month low of $227.52 and a 12-month high of $288.78. The company has a current ratio of 2.21, a quick ratio of 1.45 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $11.11 billion, a PE ratio of 31.37, a PEG ratio of 1.70 and a beta of 1.12.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, November 1st. The medical technology company reported $2.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.11. Teleflex had a return on equity of 17.32% and a net margin of 3.78%. The firm had revenue of $609.70 million for the quarter, compared to analysts’ expectations of $609.05 million. During the same period in the previous year, the firm posted $2.12 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. As a group, analysts predict that Teleflex Incorporated will post 9.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Thursday, November 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.52%. Teleflex’s dividend payout ratio (DPR) is 16.19%.

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in shares of Teleflex by 200.0% in the second quarter. Parallel Advisors LLC now owns 450 shares of the medical technology company’s stock worth $120,000 after purchasing an additional 300 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Teleflex in the third quarter worth about $156,000. Qube Research & Technologies Ltd bought a new stake in shares of Teleflex in the second quarter worth about $168,000. First Light Asset Management LLC bought a new stake in shares of Teleflex in the second quarter worth about $210,000. Finally, Dupont Capital Management Corp increased its holdings in shares of Teleflex by 80.5% in the second quarter. Dupont Capital Management Corp now owns 832 shares of the medical technology company’s stock worth $223,000 after purchasing an additional 371 shares during the last quarter. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

TFX has been the topic of a number of recent analyst reports. ValuEngine raised Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Morgan Stanley decreased their price target on Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, August 3rd. Needham & Company LLC raised Teleflex from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $279.00 to $300.00 in a report on Monday, September 10th. TheStreet cut Teleflex from a “b” rating to a “c+” rating in a report on Friday, August 3rd. Finally, Barclays initiated coverage on Teleflex in a report on Monday, October 15th. They set an “equal weight” rating and a $266.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Teleflex has a consensus rating of “Buy” and a consensus target price of $286.67.

Teleflex Company 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: Hedge Funds – Risk or Reward?

Insider Buying and Selling by Quarter for Teleflex (NYSE:TFX)

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