Comerica Bank Raises Position in Teleflex Incorporated $TFX

Key Points

• Comerica Bank increased its holdings in Teleflex by 104.1%, owning 17,219 shares valued at approximately $2.38 million at the end of the first quarter.
• Teleflex's earnings report revealed an EPS of $3.73, exceeding estimates, with a revenue of $780.9 million, marking a 4.2% year-over-year growth.
• The company announced a quarterly dividend of $0.34, with a dividend yield of 1.1%, set to be paid on September 15th.

Comerica Bank lifted its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 104.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,219 shares of the medical technology company's stock after purchasing an additional 8,782 shares during the period. Comerica Bank's holdings in Teleflex were worth $2,380,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Teleflex by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,216,763 shares of the medical technology company's stock worth $859,095,000 after purchasing an additional 43,642 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Teleflex by 69.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company's stock worth $119,927,000 after purchasing an additional 355,720 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Teleflex by 122.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock worth $80,784,000 after purchasing an additional 322,222 shares during the last quarter. TD Asset Management Inc boosted its holdings in Teleflex by 0.7% in the 1st quarter. TD Asset Management Inc now owns 490,000 shares of the medical technology company's stock worth $67,713,000 after buying an additional 3,310 shares during the period. Finally, Northern Trust Corp boosted its holdings in Teleflex by 15.2% in the 4th quarter. Northern Trust Corp now owns 462,846 shares of the medical technology company's stock worth $82,377,000 after buying an additional 61,219 shares during the period. Hedge funds and other institutional investors own 95.62% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TFX. Truist Financial cut their price objective on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada lifted their price target on Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Wall Street Zen cut Teleflex from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Wells Fargo & Company reduced their price target on 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, Mizuho lifted their price target on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Teleflex currently has an average rating of "Hold" and a consensus price target of $141.57.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average price of $115.86 per share, with a total value of $115,860.00. Following the acquisition, the director directly owned 7,547 shares of the company's stock, valued at approximately $874,395.42. This represents a 15.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew A. Krakauer purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $115.25 per share, for a total transaction of $115,250.00. Following the acquisition, the director directly owned 7,192 shares in the company, valued at approximately $828,878. The trade was a 16.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,500 shares of company stock worth $633,590. Company insiders own 1.40% of the company's stock.

Teleflex Stock Performance

NYSE TFX opened at $126.58 on Tuesday. Teleflex Incorporated has a 1 year low of $108.90 and a 1 year 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 stock has a market capitalization of $5.59 billion, a PE ratio of 29.78, a P/E/G ratio of 1.76 and a beta of 1.08. The company's 50 day simple moving average is $119.22 and its two-hundred day simple moving average is $128.56.

Teleflex (NYSE:TFX - Get Free Report) last posted its 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. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. The business had revenue of $780.90 million for the quarter, compared to analysts' expectations of $771.53 million. During the same period in the prior year, the company posted $3.42 EPS. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

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

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.

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