Teleflex Incorporated $TFX Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. significantly reduced its stake in Teleflex Incorporated by 83.5% in Q1, owning 1,812 shares valued at $250,000 after selling 9,185 shares.
• Several institutional investors, including Ameriprise Financial Inc. and Deutsche Bank AG, have increased their holdings in Teleflex during the fourth quarter, indicating strong institutional interest in the stock.
• Teleflex recently declared a quarterly dividend of $0.34 per share, with an annualized yield of 1.0% and a payout ratio of 32.00%.

Corebridge Financial Inc. lessened its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 83.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,812 shares of the medical technology company's stock after selling 9,185 shares during the period. Corebridge Financial Inc.'s holdings in Teleflex were worth $250,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after buying an additional 100 shares during the period. True Wealth Design LLC boosted its position in shares of Teleflex by 62.3% in the fourth quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock worth $48,000 after purchasing an additional 104 shares during the period. Signaturefd LLC boosted its position in shares of Teleflex by 38.3% in the first quarter. Signaturefd LLC now owns 433 shares of the medical technology company's stock worth $60,000 after purchasing an additional 120 shares during the period. Empirical Finance LLC boosted its position in shares of Teleflex by 7.9% in the first quarter. Empirical Finance LLC now owns 1,690 shares of the medical technology company's stock worth $234,000 after purchasing an additional 124 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Teleflex by 30.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 556 shares of the medical technology company's stock worth $77,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 95.62% of the company's stock.

Teleflex Price Performance

Shares of Teleflex stock traded down $2.03 during trading hours on Friday, reaching $130.47. 712,975 shares of the company's stock were exchanged, compared to its average volume of 559,336. Teleflex Incorporated has a 1 year low of $108.90 and a 1 year high of $249.90. The company has a market capitalization of $5.77 billion, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08. The business has a fifty day moving average of $120.97 and a two-hundred day moving average of $126.08. The company has a quick ratio of 1.44, a current ratio of 2.41 and a debt-to-equity ratio of 0.42.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $771.53 million. During the same quarter in the prior year, the firm earned $3.42 earnings per share. The company'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. As a group, research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given 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 yield of 1.0%. Teleflex's dividend payout ratio is presently 32.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFX. Royal Bank Of Canada upped their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Mizuho raised their target price 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. Wall Street Zen upgraded shares of Teleflex from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 7th. Finally, Wells Fargo & Company lowered their target price on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. One investment 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.com, Teleflex presently has an average rating of "Hold" and a consensus target price of $141.57.

Insider Buying and Selling at Teleflex

In other Teleflex news, CEO Liam Kelly purchased 1,500 shares of Teleflex stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $115.07 per share, with a total value of $172,605.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gretchen R. Haggerty bought 500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average price of $114.75 per share, for a total transaction of $57,375.00. Following the completion of the purchase, the director directly owned 6,305 shares of the company's stock, valued at approximately $723,498.75. This trade represents a 8.61% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 5,500 shares of company stock valued at $633,590. Corporate insiders own 1.40% of the company's stock.

Teleflex Company 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.