Todays Report: The Wealth Enhancement Advisory Services LLC Acquires New Position in Teleflex Inc. (TFX)

The Wealth Enhancement Advisory Services LLC Acquires New Position in Teleflex Inc. (TFX)

Wealth Enhancement Advisory Services LLC acquired a new position in Teleflex Inc. (NYSE:TFX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,052 shares of the medical technology company’s stock, valued at approximately $1,428,000.

A number of other hedge funds also recently modified their holdings of TFX. Atlanta Capital Management Co. L L C increased its position in shares of Teleflex by 42.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,830,995 shares of the medical technology company’s stock worth $287,484,000 after buying an additional 542,610 shares during the last quarter. State Street Corp increased its position in shares of Teleflex by 0.5% in the first quarter. State Street Corp now owns 1,091,317 shares of the medical technology company’s stock worth $171,347,000 after buying an additional 5,130 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Teleflex by 120.7% in the first quarter. Wellington Management Group LLP now owns 761,800 shares of the medical technology company’s stock worth $119,610,000 after buying an additional 416,696 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Teleflex by 12.3% in the second quarter. Acadian Asset Management LLC now owns 593,042 shares of the medical technology company’s stock worth $105,153,000 after buying an additional 64,787 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Teleflex by 2.3% in the first quarter. Geode Capital Management LLC now owns 257,849 shares of the medical technology company’s stock worth $40,484,000 after buying an additional 5,796 shares during the last quarter. 93.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Teleflex Inc. (NYSE:TFX) traded down 0.18% during midday trading on Monday, reaching $168.50. 481,211 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $174.79 and a 200-day moving average of $170.53. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 29.91 and a beta of 0.83. Teleflex Inc. has a one year low of $123.79 and a one year high of $188.79.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, July 28th. The medical technology company reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Teleflex had a net margin of 14.89% and a return on equity of 15.59%. The business earned $473.60 million during the quarter, compared to the consensus estimate of $468.40 million. During the same quarter last year, the firm earned $1.42 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts anticipate that Teleflex Inc. will post $7.33 earnings per share for the current year.

A number of equities analysts have recently weighed in on TFX shares. Leerink Swann boosted their target price on Teleflex from $183.00 to $190.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded Teleflex from a “hold” rating to a “buy” rating and set a $192.00 target price on the stock in a research note on Wednesday, June 29th. Jefferies Group boosted their target price on Teleflex from $157.00 to $185.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Finally, Barclays PLC boosted their target price on Teleflex from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Teleflex presently has a consensus rating of “Buy” and a consensus target price of $171.33.

Teleflex Company Profile

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 markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors.

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