Bahl & Gaynor Inc. Has $2.06 Million Position in Teleflex Incorporated $TFX

Key Points

• Bahl & Gaynor Inc. reduced its holdings in Teleflex Incorporated by 12.9%, owning 14,893 shares worth approximately $2.06 million after selling 2,197 shares.
• Teleflex's stock price increased 3.8%, with shares opening at $129.2950 and a market cap of $5.71 billion.
• The company announced a quarterly dividend of $0.34 per share, with an annual yield of 1.1%, scheduled for payment on September 15th.

Bahl & Gaynor Inc. cut its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,893 shares of the medical technology company's stock after selling 2,197 shares during the period. Bahl & Gaynor Inc.'s holdings in Teleflex were worth $2,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TFX. Teacher Retirement System of Texas bought a new stake in shares of Teleflex in the first quarter valued at about $1,242,000. Amalgamated Bank raised its holdings in Teleflex by 56.9% in the 1st quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock valued at $1,941,000 after acquiring an additional 5,095 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Teleflex by 13.9% in the 1st quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock worth $6,227,000 after acquiring an additional 5,482 shares during the period. Brown Advisory Inc. grew its holdings in shares of Teleflex by 34.2% during the 1st quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock worth $349,000 after purchasing an additional 643 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Teleflex during the 1st quarter worth approximately $105,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

Shares of NYSE:TFX traded down $0.26 during midday trading on Tuesday, reaching $127.29. The company's stock had a trading volume of 477,949 shares, compared to its average volume of 572,465. The business's fifty day simple moving average is $118.48 and its 200-day simple moving average is $130.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44. Teleflex Incorporated has a fifty-two week low of $108.90 and a fifty-two week high of $249.90. The company has a market capitalization of $5.63 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.78 and a beta of 1.08.

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

Teleflex Announces Dividend

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

Insider Activity

In other news, Director Stuart A. Randle purchased 1,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price 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. The trade was a 15.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew A. Krakauer purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $115.25 per share, for a total transaction of $115,250.00. Following the acquisition, the director owned 7,192 shares of the company's stock, valued at $828,878. The trade was a 16.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 5,500 shares of company stock worth $633,590. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Mizuho raised their target price on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Morgan Stanley reduced their price objective on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Truist Financial decreased their target price 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. Wells Fargo & Company dropped their price target on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Wall Street Zen raised Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $141.57.

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. 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.