American Research & Management Co. Reduces Holdings in Teleflex Incorporated (NYSE:TFX)

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American Research & Management Co. decreased its stake in Teleflex Incorporated (NYSE:TFX) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,759 shares of the medical technology company’s stock after selling 400 shares during the quarter. American Research & Management Co.’s holdings in Teleflex were worth $2,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TFX. Metropolitan Life Insurance Co. NY grew its stake in Teleflex by 1.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,589 shares of the medical technology company’s stock valued at $3,645,000 after acquiring an additional 251 shares during the last quarter. Security Asset Management boosted its stake in shares of Teleflex by 4.2% during the 2nd quarter. Security Asset Management now owns 6,935 shares of the medical technology company’s stock worth $1,860,000 after purchasing an additional 282 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Teleflex by 200.0% during the 2nd 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. State Treasurer State of Michigan boosted its stake in shares of Teleflex by 1.8% during the 2nd quarter. State Treasurer State of Michigan now owns 16,730 shares of the medical technology company’s stock worth $4,487,000 after purchasing an additional 300 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of Teleflex by 4.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 8,738 shares of the medical technology company’s stock worth $2,344,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

In other news, insider Thomas E. Powell sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $277.06, for a total transaction of $1,440,712.00. Following the completion of the sale, the insider now owns 12,162 shares of the company’s stock, valued at $3,369,603.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas Anthony Kennedy sold 20,635 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $268.91, for a total transaction of $5,548,957.85. Following the sale, the vice president now directly owns 6,046 shares of the company’s stock, valued at approximately $1,625,829.86. The disclosure for this sale can be found here. Insiders have sold 98,490 shares of company stock worth $25,532,772 in the last quarter. Insiders own 2.56% of the company’s stock.

NYSE TFX traded down $0.04 during mid-day trading on Thursday, hitting $247.96. The company’s stock had a trading volume of 4,466 shares, compared to its average volume of 305,131. Teleflex Incorporated has a 52-week low of $227.52 and a 52-week high of $288.78. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 2.21. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.87 and a beta of 1.12.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 2nd. The medical technology company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.41 by $0.06. The firm had revenue of $609.87 million for the quarter, compared to analyst estimates of $615.97 million. Teleflex had a net margin of 3.78% and a return on equity of 17.32%. Teleflex’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.04 earnings per share. Sell-side analysts forecast that Teleflex Incorporated will post 9.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Wednesday, August 15th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. Teleflex’s dividend payout ratio is currently 16.19%.

TFX has been the topic of several recent analyst reports. ValuEngine upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Needham & Company LLC cut their price objective on shares of Teleflex from $298.00 to $279.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Morgan Stanley cut their price objective on shares of Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a report on Friday, August 3rd. Finally, TheStreet lowered shares of Teleflex from a “b” rating to a “c+” rating in a report on Friday, August 3rd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $289.25.

Teleflex 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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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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