LPL Financial LLC Buys 5,434 Shares of Teleflex Incorporated (NYSE:TFX)

Key Points

• LPL Financial LLC increased its stake in Teleflex Incorporated by 15.6%, acquiring an additional 5,434 shares, bringing its total holdings to 40,365 shares, valued at approximately $5.58 million.
• Teleflex reported better-than-expected earnings of $3.73 EPS for the last quarter, exceeding estimates by $0.37, while revenue reached $780.90 million.
• The company announced a quarterly dividend of $0.34 per share, reflecting an annualized dividend of $1.36 and a yield of 1.1%, with the payment date set for September 15th.

LPL Financial LLC increased its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 15.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,365 shares of the medical technology company's stock after acquiring an additional 5,434 shares during the quarter. LPL Financial LLC owned approximately 0.09% of Teleflex worth $5,578,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TFX. Cerity Partners LLC lifted its holdings in Teleflex by 25.8% during the fourth quarter. Cerity Partners LLC now owns 16,822 shares of the medical technology company's stock worth $3,266,000 after acquiring an additional 3,448 shares during the period. Sterling Capital Management LLC lifted its holdings in Teleflex by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,791 shares of the medical technology company's stock worth $497,000 after acquiring an additional 996 shares during the period. Barclays PLC lifted its holdings in Teleflex by 20.9% during the fourth quarter. Barclays PLC now owns 108,689 shares of the medical technology company's stock worth $19,344,000 after acquiring an additional 18,782 shares during the period. Mariner LLC lifted its holdings in Teleflex by 7.9% during the fourth quarter. Mariner LLC now owns 5,430 shares of the medical technology company's stock worth $966,000 after acquiring an additional 396 shares during the period. Finally, Walleye Capital LLC lifted its holdings in Teleflex by 420.2% during the fourth quarter. Walleye Capital LLC now owns 6,695 shares of the medical technology company's stock worth $1,192,000 after acquiring an additional 5,408 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Insider Transactions at Teleflex

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

Teleflex Price Performance

Teleflex stock traded down $0.50 during midday trading on Friday, hitting $121.00. 322,158 shares of the company's stock were exchanged, compared to its average volume of 797,540. Teleflex Incorporated has a 52-week low of $108.90 and a 52-week high of $249.90. The stock has a 50-day moving average price of $117.97 and a two-hundred day moving average price of $133.22. 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 company has a market cap of $5.35 billion, a P/E ratio of 28.47, a PEG ratio of 1.71 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last posted its 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. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The business had revenue of $780.90 million during the quarter, compared to analysts' expectations of $771.53 million. During the same period in the previous year, the business earned $3.42 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. Teleflex's dividend payout ratio is presently 32.00%.

Analysts Set New Price Targets

TFX has been the subject of a number of research reports. Mizuho increased their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Truist Financial reduced their target price on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Morgan Stanley reduced their target price on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada lifted their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Teleflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $141.57.

Teleflex 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.