BLB&B Advisors LLC Sells 50 Shares of Teleflex Incorporated (TFX)
BLB&B Advisors LLC lowered its position in Teleflex Incorporated (NYSE:TFX) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,508 shares of the medical technology company’s stock after selling 50 shares during the quarter. BLB&B Advisors LLC’s holdings in Teleflex were worth $456,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TFX. LPL Financial LLC purchased a new position in Teleflex in the third quarter valued at about $234,000. Man Group plc grew its stake in Teleflex by 24.0% in the third quarter. Man Group plc now owns 22,654 shares of the medical technology company’s stock valued at $6,027,000 after purchasing an additional 4,388 shares in the last quarter. AQR Capital Management LLC grew its stake in Teleflex by 2.9% in the third quarter. AQR Capital Management LLC now owns 20,111 shares of the medical technology company’s stock valued at $5,351,000 after purchasing an additional 571 shares in the last quarter. Beaton Management Co. Inc. purchased a new position in Teleflex in the third quarter valued at about $213,000. Finally, Nordea Investment Management AB grew its stake in Teleflex by 32.6% in the third quarter. Nordea Investment Management AB now owns 1,763 shares of the medical technology company’s stock valued at $469,000 after purchasing an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.
In related news, VP John Deren sold 5,051 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $287.18, for a total transaction of $1,450,546.18. Following the completion of the transaction, the vice president now owns 5,112 shares of the company’s stock, valued at approximately $1,468,064.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benson Smith sold 8,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $300.15, for a total value of $2,551,275.00. Following the transaction, the director now directly owns 84,913 shares of the company’s stock, valued at approximately $25,486,636.95. The disclosure for this sale can be found here. Insiders sold 28,176 shares of company stock valued at $8,375,760 in the last ninety days. Insiders own 2.36% of the company’s stock.
Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, February 21st. The medical technology company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.01. Teleflex had a return on equity of 18.47% and a net margin of 8.20%. The company had revenue of $641.60 million during the quarter, compared to analysts’ expectations of $641.06 million. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Teleflex Incorporated will post 11.03 EPS for the current fiscal year.
A number of research analysts have commented on TFX shares. Morgan Stanley boosted their target price on Teleflex from $295.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $325.00 price target (up previously from $300.00) on shares of Teleflex in a research report on Friday, February 22nd. Zacks Investment Research raised Teleflex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Barclays set a $287.00 price target on Teleflex and gave the stock a “hold” rating in a research report on Friday, February 22nd. Finally, UBS Group boosted their price target on Teleflex to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $316.13.
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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