Hsbc Holdings PLC Sells 119,809 Shares of Teleflex Incorporated $TFX

Key Points

• HSBC Holdings PLC drastically reduced its stake in Teleflex Incorporated by 98.2%, owning only 2,201 shares after selling 119,809 shares in the first quarter.
• Several institutional investors have increased their stakes in Teleflex, with Whipplewood Advisors LLC raising their holdings by a staggering 7,700%, indicating significant interest from other market players.
• Teleflex recently announced a quarterly dividend of $0.34 per share, with a payout ratio of 32.00%, providing a yield of 1.1% for shareholders.

Hsbc Holdings PLC cut its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 98.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,201 shares of the medical technology company's stock after selling 119,809 shares during the quarter. Hsbc Holdings PLC's holdings in Teleflex were worth $303,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. AXA S.A. grew its position in Teleflex by 309.7% during the fourth quarter. AXA S.A. now owns 10,353 shares of the medical technology company's stock valued at $1,843,000 after purchasing an additional 7,826 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Teleflex by 62.4% during the 4th quarter. Ameriprise Financial Inc. now owns 23,660 shares of the medical technology company's stock valued at $4,211,000 after purchasing an additional 9,094 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Teleflex by 46.3% in the 4th quarter. BNP Paribas Financial Markets now owns 94,389 shares of the medical technology company's stock valued at $16,799,000 after buying an additional 29,891 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Teleflex by 4.2% in the 4th quarter. Captrust Financial Advisors now owns 4,217 shares of the medical technology company's stock worth $750,000 after purchasing an additional 169 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its holdings in Teleflex by 35.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 5,659 shares of the medical technology company's stock worth $1,007,000 after acquiring an additional 1,495 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company's stock.

Teleflex Trading Down 0.3%

Shares of TFX traded down $0.35 during midday trading on Monday, hitting $130.35. 390,056 shares of the stock were exchanged, compared to its average volume of 777,117. 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 quick ratio of 1.44 and a current ratio of 2.41. The firm has a market cap of $5.76 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.82 and a beta of 1.08. The stock has a fifty day simple moving average of $119.91 and a 200 day simple moving average of $127.34.

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, topping the consensus estimate of $3.36 by $0.37. The business 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 company's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.42 EPS. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

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 paid 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 (DPR) is 32.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Teleflex from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Royal Bank Of Canada raised their price target 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 raised their price objective on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company reduced their target price on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Teleflex presently has an average rating of "Hold" and a consensus price target of $141.57.

Insider Buying and Selling at Teleflex

In related news, Director Gretchen R. Haggerty acquired 500 shares of the firm's stock in a transaction dated 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 acquisition, the director directly owned 6,305 shares of the company's stock, valued at approximately $723,498.75. The trade was a 8.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew A. Krakauer purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average cost of $115.25 per share, for a total transaction of $115,250.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders have purchased 5,500 shares of company stock worth $633,590 in the last ninety days. Company insiders own 1.40% of the company's stock.

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.