Eagle Asset Management Inc. Grows Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Eagle Asset Management Inc. increased its stake in shares of Teleflex Incorporated (NYSE:TFX) by 2,616.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,690 shares of the medical technology company’s stock after buying an additional 196,191 shares during the period. Eagle Asset Management Inc. owned about 0.44% of Teleflex worth $69,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TFX. Bourgeon Capital Management LLC purchased a new stake in shares of Teleflex in the third quarter valued at about $178,000. Alps Advisors Inc. purchased a new stake in shares of Teleflex in the third quarter valued at about $366,000. Newport Trust Co purchased a new stake in shares of Teleflex in the third quarter valued at about $39,717,000. SG Americas Securities LLC purchased a new stake in shares of Teleflex in the third quarter valued at about $2,924,000. Finally, Donaldson Capital Management LLC lifted its holdings in shares of Teleflex by 24.3% in the third quarter. Donaldson Capital Management LLC now owns 876 shares of the medical technology company’s stock valued at $298,000 after purchasing an additional 171 shares in the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP John Deren sold 2,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $365.06, for a total transaction of $731,580.24. Following the completion of the transaction, the vice president now owns 3,046 shares of the company’s stock, valued at $1,111,972.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benson Smith sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $340.01, for a total transaction of $5,780,170.00. Following the transaction, the director now directly owns 65,809 shares of the company’s stock, valued at approximately $22,375,718.09. The disclosure for this sale can be found here. In the last three months, insiders sold 74,085 shares of company stock valued at $25,152,672. Company insiders own 2.36% of the company’s stock.

NYSE:TFX opened at $331.18 on Friday. The firm has a 50 day simple moving average of $331.86 and a 200-day simple moving average of $328.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.33 and a quick ratio of 1.44. The firm has a market cap of $15.57 billion, a PE ratio of 33.45, a P/E/G ratio of 2.12 and a beta of 0.96. Teleflex Incorporated has a 1-year low of $226.02 and a 1-year high of $373.90.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, October 31st. The medical technology company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.22. The business had revenue of $648.32 million during the quarter, compared to analyst estimates of $643.20 million. Teleflex had a net margin of 17.36% and a return on equity of 18.81%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.52 earnings per share. As a group, sell-side analysts expect that Teleflex Incorporated will post 11.08 earnings per share for the current fiscal year.

The company also recently disclosed a dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 14th. Teleflex’s dividend payout ratio is presently 13.74%.

Several analysts have issued reports on the stock. JMP Securities upped their price target on shares of Teleflex from $325.00 to $395.00 and gave the company a “market outperform” rating in a report on Monday, August 5th. Needham & Company LLC set a $403.00 price objective on shares of Teleflex and gave the company a “buy” rating in a research report on Tuesday, October 15th. Barclays set a $365.00 price objective on shares of Teleflex and gave the company a “hold” rating in a research report on Friday, November 1st. Raymond James cut their price objective on shares of Teleflex from $420.00 to $415.00 and set a “strong-buy” rating for the company in a research report on Monday, October 7th. Finally, Leerink Swann set a $405.00 price objective on shares of Teleflex and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $381.30.

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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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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