Brookside Capital Management Lowers stake in Teleflex Incorporated (TFX)

Teleflex Incorporated (TFX) : Brookside Capital Management reduced its stake in Teleflex Incorporated by 28.84% during the most recent quarter end. The investment management company now holds a total of 695,913 shares of Teleflex Incorporated which is valued at $126,308,210 after selling 281,975 shares in Teleflex Incorporated , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Teleflex Incorporated makes up approximately 4.80% of Brookside Capital Management’s portfolio.

Other Hedge Funds, Including , Skyline Asset Management Lp reduced its stake in TFX by selling 10,000 shares or 6.59% in the most recent quarter. The Hedge Fund company now holds 141,820 shares of TFX which is valued at $25,740,330. Teleflex Incorporated makes up approx 1.78% of Skyline Asset Management Lp’s portfolio.Dixon Hubard Feinour Brown Incva reduced its stake in TFX by selling 300 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 38,745 shares of TFX which is valued at $7,032,218. Teleflex Incorporated makes up approx 2.17% of Dixon Hubard Feinour Brown Incva’s portfolio. Letko Brosseau Associates Inc added TFX to its portfolio by purchasing 1,200 company shares during the most recent quarter which is valued at $216,300.Utah Retirement Systems boosted its stake in TFX in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 8,090 shares of Teleflex Incorporated which is valued at $1,456,443. Teleflex Incorporated makes up approx 0.04% of Utah Retirement Systems’s portfolio.

Teleflex Incorporated opened for trading at $183.58 and hit $184.7 on the upside on Thursday, eventually ending the session at $184.1, with a gain of 0.55% or 1.01 points. The heightened volatility saw the trading volume jump to 1,83,643 shares. Company has a market cap of $8,107 M.

On the company’s financial health, Teleflex Incorporated reported $1.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.74. The company had revenue of $473.60 million for the quarter, compared to analysts expectations of $468.18 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS.

Many Wall Street Analysts have commented on Teleflex Incorporated. Teleflex Incorporated was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Jul 12, 2016. Company shares were Reiterated by Barclays on Jun 14, 2016 to “Overweight”, Firm has raised the Price Target to $ 183 from a previous price target of $170 .

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 also markets and sells its products to hospitals and healthcare providers. The Company operates its business in six segments: Vascular North America; Anesthesia/Respiratory North America; Surgical North America; Europe the Middle East and Africa (EMEA); Asia and Original Equipment Manufacturer (OEM). The Company manufactures its products at 26 manufacturing sites with manufacturing operations located in the Czech Republic Germany Malaysia Mexico and the United States. The Company’s specialty product line consists of a range of catheters including Foley intermittent external and suprapubic; urine collectors; catheterization accessories and products for operative endourology.

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