Three Peaks Capital Management LLC reduced its position in Teleflex Incorporated (NYSE:TFX) by 12.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,629 shares of the medical technology company’s stock after selling 2,252 shares during the period. Teleflex comprises 1.6% of Three Peaks Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Three Peaks Capital Management LLC’s holdings in Teleflex were worth $5,883,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Teleflex by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,971,747 shares of the medical technology company’s stock valued at $1,646,394,000 after purchasing an additional 87,140 shares in the last quarter. BlackRock Inc. increased its stake in Teleflex by 6.9% in the 2nd quarter. BlackRock Inc. now owns 4,044,235 shares of the medical technology company’s stock valued at $1,339,247,000 after purchasing an additional 259,880 shares in the last quarter. Invesco Ltd. increased its stake in Teleflex by 29.3% in the 2nd quarter. Invesco Ltd. now owns 870,117 shares of the medical technology company’s stock valued at $288,139,000 after purchasing an additional 197,426 shares in the last quarter. Marshall Wace LLP increased its stake in Teleflex by 26.7% in the 2nd quarter. Marshall Wace LLP now owns 756,383 shares of the medical technology company’s stock valued at $250,476,000 after purchasing an additional 159,606 shares in the last quarter. Finally, Parnassus Investments CA increased its stake in Teleflex by 3.0% in the 3rd quarter. Parnassus Investments CA now owns 486,333 shares of the medical technology company’s stock valued at $165,232,000 after purchasing an additional 14,078 shares in the last quarter. 90.29% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on the company. Wells Fargo & Co raised their price objective on Teleflex from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC set a $403.00 price target on Teleflex and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley raised their price target on Teleflex from $392.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays set a $365.00 price target on Teleflex and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Raymond James dropped their price target on Teleflex from $420.00 to $415.00 and set a “strong-buy” rating for the company in a research report on Monday, October 7th. Three 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 company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $398.60.
Teleflex stock traded up $3.16 during midday trading on Friday, hitting $387.54. The stock had a trading volume of 1,742 shares, compared to its average volume of 185,136. The company has a current ratio of 2.33, a quick ratio of 1.44 and a debt-to-equity ratio of 0.72. The stock has a market cap of $17.61 billion, a P/E ratio of 39.07, a P/E/G ratio of 2.11 and a beta of 0.95. Teleflex Incorporated has a 12 month low of $246.52 and a 12 month high of $386.01. The business has a fifty day moving average price of $368.92 and a 200 day moving average price of $349.52.
Teleflex (NYSE:TFX) last posted its earnings results on Thursday, October 31st. The medical technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.22. The company had revenue of $648.32 million during the quarter, compared to analyst estimates of $643.20 million. Teleflex had a return on equity of 18.81% and a net margin of 17.36%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 earnings per share. On average, equities analysts anticipate that Teleflex Incorporated will post 11.08 EPS for the current fiscal year.
In other news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $316.01, for a total transaction of $63,202.00. Following the completion of the transaction, the director now directly owns 936 shares in the company, valued at $295,785.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Cameron P. Hicks sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $350.00, for a total value of $455,000.00. Following the transaction, the vice president now owns 6,106 shares of the company’s stock, valued at $2,137,100. The disclosure for this sale can be found here. Insiders have sold 47,181 shares of company stock valued at $15,975,881 over the last ninety days. Corporate insiders own 2.36% of the company’s stock.
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.
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