APG Asset Management N.V. Sells 3,602 Shares of Teleflex Incorporated $TFX

Key Points

• APG Asset Management N.V. reduced its stake in Teleflex Incorporated by 12.8%, selling 3,602 shares to hold 24,500 shares valued at $3.13 million.
• Teleflex reported earnings of $3.73 per share for the last quarter, exceeding expectations with revenue of $780.90 million, up 4.2% year-over-year.
• CEO Liam Kelly and Director Stuart A. Randle both recently bought shares, indicating confidence in the company's performance despite current market conditions.

APG Asset Management N.V. lowered its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,500 shares of the medical technology company's stock after selling 3,602 shares during the period. APG Asset Management N.V. owned 0.06% of Teleflex worth $3,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Teleflex by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,216,763 shares of the medical technology company's stock valued at $859,095,000 after buying an additional 43,642 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Teleflex by 69.5% during the first quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company's stock valued at $119,927,000 after buying an additional 355,720 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Teleflex by 122.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock valued at $80,784,000 after buying an additional 322,222 shares during the last quarter. TD Asset Management Inc raised its position in shares of Teleflex by 0.7% during the first quarter. TD Asset Management Inc now owns 490,000 shares of the medical technology company's stock valued at $67,713,000 after buying an additional 3,310 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Teleflex by 15.2% during the fourth quarter. Northern Trust Corp now owns 462,846 shares of the medical technology company's stock valued at $82,377,000 after buying an additional 61,219 shares during the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Trading Down 0.2%

Shares of TFX opened at $127.29 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.44 and a current ratio of 2.41. The company's fifty day moving average is $118.48 and its 200 day moving average is $130.01. The stock has a market capitalization of $5.63 billion, a PE ratio of 29.95, a P/E/G ratio of 1.78 and a beta of 1.08. Teleflex Incorporated has a fifty-two week low of $108.90 and a fifty-two week high of $249.90.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.36 by $0.37. The company had revenue of $780.90 million during the quarter, compared to analyst estimates of $771.53 million. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. Teleflex's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.42 earnings per share. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Sell-side analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. Teleflex's payout ratio is presently 32.00%.

Wall Street Analyst Weigh In

TFX has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Morgan Stanley reduced their price target on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Teleflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Truist Financial reduced their price target on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their price target on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $141.57.

Insider Activity at Teleflex

In other news, CEO Liam Kelly acquired 1,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was bought at an average cost of $115.07 per share, with a total value of $172,605.00. Following the completion of the purchase, the chief executive officer directly owned 45,267 shares of the company's stock, valued at $5,208,873.69. This represents a 3.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stuart A. Randle acquired 1,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were purchased at an average cost of $115.86 per share, with a total value of $115,860.00. Following the completion of the purchase, the director directly owned 7,547 shares of the company's stock, valued at $874,395.42. This trade represents a 15.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 5,500 shares of company stock valued at $633,590 over the last three months. Corporate insiders own 1.40% of the company's stock.

Teleflex 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. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.

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