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. reduced its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 83.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Teleflex during the 1st quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Teleflex by 103.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Costello Asset Management INC bought a new stake in Teleflex during the first quarter worth $28,000. Brooklyn Investment Group raised its position in shares of Teleflex by 258.6% in the first quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 150 shares during the period. Finally, Whipplewood Advisors LLC raised its position in shares of Teleflex by 7,700.0% in the first quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 231 shares during the period. 95.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TFX has been the topic of a number of recent research reports. Wall Street Zen raised shares of Teleflex from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Mizuho raised their price target on shares of Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wells Fargo & Company decreased 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 note on Friday, August 1st. Finally, Royal Bank Of Canada lifted their price objective 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. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Teleflex currently has an average rating of "Hold" and an average target price of $141.57.

Insider Activity

In related news, CEO Liam Kelly acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average cost of $115.07 per share, for a total transaction of $172,605.00. Following the purchase, the chief executive officer directly owned 45,267 shares of the company's stock, valued at $5,208,873.69. This trade represents a 3.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stuart A. Randle purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was 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 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 disclosure for this purchase can be found here. Insiders bought a total of 5,500 shares of company stock worth $633,590 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Teleflex Stock Performance

Shares of TFX stock traded up $0.07 during trading hours on Wednesday, reaching $130.30. 858,756 shares of the company traded hands, compared to its average volume of 542,622. The firm has a 50-day moving average price of $120.50 and a 200 day moving average price of $127.07. The company has a market cap of $5.76 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.82 and a beta of 1.08. Teleflex Incorporated has a 12-month low of $108.90 and a 12-month 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.

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

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.34 per share. 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 1.0%. Teleflex's dividend payout ratio is presently 32.00%.

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.