Inverness Counsel LLC NY trimmed its position in Teleflex Incorporated (NYSE:TFX) by 51.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,132 shares of the medical technology company’s stock after selling 25,347 shares during the quarter. Inverness Counsel LLC NY’s holdings in Teleflex were worth $7,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantamental Technologies LLC acquired a new position in shares of Teleflex in the first quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in shares of Teleflex in the first quarter valued at $31,000. Quadrant Capital Group LLC raised its stake in shares of Teleflex by 82.8% in the first quarter. Quadrant Capital Group LLC now owns 117 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Exane Derivatives acquired a new position in shares of Teleflex in the fourth quarter valued at $41,000. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Teleflex in the first quarter valued at $52,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

A number of brokerages recently commented on TFX. Zacks Investment Research lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Raymond James upped their target price on Teleflex from $320.00 to $348.00 and gave the company a “strong-buy” rating in a research note on Wednesday, March 27th. Needham & Company LLC restated a “buy” rating and issued a $325.00 target price on shares of Teleflex in a research note on Tuesday, March 26th. UBS Group upped their target price on Teleflex to $350.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley increased their price objective on Teleflex from $305.00 to $315.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 26th. 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’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $326.50.

In other news, Director John C. Heinmiller purchased 1,250 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average price of $285.00 per share, for a total transaction of $356,250.00. Following the completion of the acquisition, the director now directly owns 634 shares in the company, valued at $180,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cameron P. Hicks sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $288.00, for a total value of $576,000.00. Following the completion of the transaction, the vice president now owns 4,696 shares in the company, valued at approximately $1,352,448. The disclosure for this sale can be found here. Insiders have sold 38,376 shares of company stock worth $11,381,818 in the last 90 days. Company insiders own 2.36% of the company’s stock.

Shares of TFX stock traded down $2.44 during trading hours on Thursday, hitting $295.31. 24,398 shares of the company’s stock were exchanged, compared to its average volume of 284,520. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.41 and a current ratio of 2.27. The stock has a market capitalization of $13.63 billion, a PE ratio of 29.83, a PEG ratio of 1.98 and a beta of 1.01. Teleflex Incorporated has a 52 week low of $226.02 and a 52 week high of $309.99.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, May 2nd. The medical technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.17 by $0.07. The company had revenue of $613.60 million for the quarter, compared to analysts’ expectations of $608.27 million. Teleflex had a return on equity of 18.62% and a net margin of 7.50%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.15 earnings per share. As a group, analysts forecast that Teleflex Incorporated will post 11.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, May 14th. Teleflex’s payout ratio is presently 13.74%.

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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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