Teleflex Incorporated (TFX) Holdings Cut by Inverness Counsel LLC NY

Inverness Counsel LLC NY cut its position in Teleflex Incorporated (NYSE:TFX) by 4.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 146,996 shares of the medical technology company’s stock after selling 7,299 shares during the quarter. Teleflex accounts for about 2.1% of Inverness Counsel LLC NY’s holdings, making the stock its 18th largest holding. Inverness Counsel LLC NY’s holdings in Teleflex were worth $39,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Teleflex by 16.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 28,021 shares of the medical technology company’s stock worth $7,516,000 after purchasing an additional 4,047 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Teleflex during the 2nd quarter valued at $3,297,000. Partner Fund Management L.P. raised its position in shares of Teleflex by 1.2% during the 2nd quarter. Partner Fund Management L.P. now owns 169,796 shares of the medical technology company’s stock valued at $45,541,000 after buying an additional 2,045 shares in the last quarter. Arizona State Retirement System raised its position in shares of Teleflex by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 31,620 shares of the medical technology company’s stock valued at $8,481,000 after buying an additional 1,095 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Teleflex during the 2nd quarter valued at $2,548,000. Institutional investors and hedge funds own 88.92% of the company’s stock.

Shares of TFX stock traded up $5.48 on Tuesday, hitting $242.73. 9,194 shares of the company’s stock traded hands, compared to its average volume of 286,993. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 2.21. Teleflex Incorporated has a one year low of $227.52 and a one year high of $288.78. The firm has a market cap of $10.79 billion, a P/E ratio of 28.74, a P/E/G ratio of 1.65 and a beta of 1.12.



Teleflex (NYSE:TFX) last released its 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. Teleflex had a net margin of 3.78% and a return on equity of 17.32%. The company had revenue of $609.87 million for the quarter, compared to analyst estimates of $615.97 million. During the same quarter last year, the firm earned $2.04 EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, analysts forecast that Teleflex Incorporated will post 9.82 EPS for the current year.

In related news, Director Benson Smith sold 9,331 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $241.84, for a total transaction of $2,256,609.04. Following the transaction, the director now owns 77,887 shares of the company’s stock, valued at approximately $18,836,192.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas E. Powell sold 5,200 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $269.64, for a total transaction of $1,402,128.00. Following the transaction, the insider now directly owns 12,432 shares in the company, valued at approximately $3,352,164.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,159 shares of company stock worth $22,836,943. 2.56% of the stock is owned by insiders.

Several analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Teleflex in a research report on Monday, October 15th. They set an “equal weight” rating and a $266.00 price objective on the stock. ValuEngine upgraded shares of Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Needham & Company LLC upgraded shares of Teleflex from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $279.00 to $300.00 in a research report on Monday, September 10th. TheStreet cut shares of Teleflex from a “b” rating to a “c+” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley lowered their price objective on shares of Teleflex from $310.00 to $295.00 and set an “overweight” rating on the stock in a research report on Friday, August 3rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $286.67.

About Teleflex

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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