Fifth Third Bancorp Sells 2,210 Shares of Teleflex Incorporated $TFX

Key Points

• Fifth Third Bancorp has reduced its stake in Teleflex by 53.4%, selling 2,210 shares, leading to a total ownership of 1,932 shares valued at approximately $229,000.
• Insider trading activity showed that Directors Stuart A. Randle and Gretchen R. Haggerty purchased shares, increasing their ownership stakes by 15.27% and 8.61% respectively.
• Teleflex recently reported a quarterly earnings per share (EPS) of $3.73, exceeding analyst estimates, and has set FY 2025 guidance of 13.900-14.300 EPS.

Fifth Third Bancorp reduced its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 53.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,932 shares of the medical technology company's stock after selling 2,210 shares during the quarter. Fifth Third Bancorp's holdings in Teleflex were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFX. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Teleflex by 242.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 216 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 153 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Teleflex by 103.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Teleflex during the 1st quarter valued at approximately $27,000. Costello Asset Management INC bought a new stake in Teleflex in the first quarter worth $28,000. Finally, Brooklyn Investment Group lifted its position in Teleflex by 258.6% in the first quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock worth $29,000 after buying an additional 150 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Stuart A. Randle bought 1,000 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $115.86 per share, for a total transaction of $115,860.00. Following the completion of the purchase, the director directly owned 7,547 shares of the company's stock, valued at approximately $874,395.42. This trade represents a 15.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gretchen R. Haggerty bought 500 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $114.75 per share, for a total transaction of $57,375.00. Following the purchase, the director directly owned 6,305 shares of the company's stock, valued at $723,498.75. The trade was a 8.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 5,500 shares of company stock valued at $633,590 over the last three months. Corporate insiders own 1.40% of the company's stock.

Teleflex Stock Performance

Shares of Teleflex stock opened at $122.35 on Wednesday. The firm has a market cap of $5.41 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42. Teleflex Incorporated has a 12 month low of $108.90 and a 12 month high of $247.45. The stock's fifty day moving average price is $122.78 and its 200-day moving average price is $124.96.

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

Teleflex Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho raised their price target on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wells Fargo & Company lowered 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. Royal Bank Of Canada raised their price target on Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded Teleflex from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Teleflex has a consensus rating of "Hold" and a consensus price target of $141.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.