Bahl & Gaynor Inc. Sells 2,197 Shares of 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. reduced its position 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 fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in shares of Teleflex during the first quarter worth about $1,242,000. Amalgamated Bank lifted its holdings in Teleflex by 56.9% in the first quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock worth $1,941,000 after acquiring an additional 5,095 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in Teleflex by 13.9% in the first 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 last quarter. Brown Advisory Inc. lifted its holdings in Teleflex by 34.2% in the first quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock worth $349,000 after acquiring an additional 643 shares during the last quarter. Finally, CX Institutional bought a new position in Teleflex in the first quarter worth about $105,000. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Trading Down 0.1%

NYSE TFX traded down $0.13 on Friday, hitting $126.10. 161,210 shares of the stock were exchanged, compared to its average volume of 780,765. Teleflex Incorporated has a 52-week low of $108.90 and a 52-week high of $249.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 1.81 and a beta of 1.08. The company's 50-day moving average price is $118.88 and its two-hundred day moving average price is $129.69.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.37. The business 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 quarter in the previous year, the business earned $3.42 EPS. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

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

Analysts Set New Price Targets

TFX has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada raised their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Mizuho lifted their price target on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley decreased 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. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Teleflex has a consensus rating of "Hold" and a consensus price target of $141.57.

Insiders Place Their Bets

In other Teleflex news, Director Andrew A. Krakauer bought 1,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average price of $115.25 per share, with a total value of $115,250.00. Following the completion of the purchase, the director directly owned 7,192 shares in the company, valued at $828,878. The trade was a 16.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Liam Kelly bought 1,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average cost of $115.07 per share, for a total transaction of $172,605.00. Following the purchase, the chief executive officer owned 45,267 shares of the company's stock, valued at $5,208,873.69. This trade represents a 3.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,500 shares of company stock valued at $633,590 over the last 90 days. Company 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.