Meadow Creek Investment Management LLC boosted its holdings in Teleflex Incorporated (NYSE:TFX) by 60.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,410 shares of the medical technology company’s stock after acquiring an additional 4,692 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Teleflex were worth $3,088,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in TFX. Aristotle Atlantic Partners LLC bought a new position in Teleflex in the 4th quarter valued at approximately $202,000. Coldstream Capital Management Inc. bought a new position in Teleflex in the 3rd quarter valued at approximately $226,000. Quantitative Systematic Strategies LLC bought a new position in Teleflex in the 4th quarter valued at approximately $228,000. Checchi Capital Advisers LLC bought a new position in Teleflex in the 4th quarter valued at approximately $230,000. Finally, Lourd Capital LLC bought a new position in Teleflex in the 4th quarter valued at approximately $266,000. 90.75% of the stock is currently owned by institutional investors and hedge funds.
TFX has been the topic of several analyst reports. ValuEngine cut Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Stephens reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Teleflex in a research report on Thursday, January 18th. Leerink Swann lowered their price objective on Teleflex from $321.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, TheStreet cut Teleflex from an “a-” rating to a “c+” rating in a research report on Monday, March 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $281.56.
Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $595.10 million for the quarter, compared to analysts’ expectations of $601.17 million. Teleflex had a return on equity of 16.46% and a net margin of 7.11%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 EPS. sell-side analysts predict that Teleflex Incorporated will post 9.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Friday, March 2nd were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, March 1st. This represents a $1.36 annualized dividend and a dividend yield of 0.51%. Teleflex’s payout ratio is 41.59%.
In other news, Director George Babich, Jr. sold 2,500 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $268.53, for a total transaction of $671,325.00. Following the transaction, the director now directly owns 11,083 shares of the company’s stock, valued at approximately $2,976,117.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen K. M.D. Klasko sold 200 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $276.44, for a total value of $55,288.00. Following the transaction, the director now directly owns 8,080 shares in the company, valued at $2,233,635.20. The disclosure for this sale can be found here. Insiders have sold a total of 14,259 shares of company stock worth $3,760,536 over the last three months. Insiders own 2.39% of the company’s stock.
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Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM).
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