Magnetar Financial LLC Sells 417,699 Shares of Teleflex Incorporated $TFX

Key Points

• Magnetar Financial LLC significantly reduced its holdings in Teleflex Incorporated by 99.1%, lowering its position to just 3,641 shares post-sale.
• Teleflex reported better-than-expected quarterly earnings with an EPS of $3.73, exceeding analysts' estimates of $3.36, alongside a 4.2% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.34 per share, which represents an annual yield of 1.1% and will be paid to shareholders on September 15th.

Magnetar Financial LLC lowered its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 99.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,641 shares of the medical technology company's stock after selling 417,699 shares during the period. Magnetar Financial LLC's holdings in Teleflex were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in shares of Teleflex during the first quarter worth approximately $1,242,000. Amalgamated Bank increased its stake in Teleflex by 56.9% during the 1st quarter. Amalgamated Bank now owns 14,046 shares of the medical technology company's stock worth $1,941,000 after acquiring an additional 5,095 shares during the period. New York State Teachers Retirement System increased its stake in Teleflex by 13.9% during the 1st quarter. New York State Teachers Retirement System now owns 45,063 shares of the medical technology company's stock worth $6,227,000 after acquiring an additional 5,482 shares during the period. Brown Advisory Inc. increased its stake in Teleflex by 34.2% during the 1st quarter. Brown Advisory Inc. now owns 2,524 shares of the medical technology company's stock worth $349,000 after acquiring an additional 643 shares during the period. Finally, CX Institutional bought a new position in Teleflex during the 1st quarter worth $105,000. Institutional investors own 95.62% of the company's stock.

Insider Buying and Selling at Teleflex

In related news, CEO Liam Kelly bought 1,500 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average cost of $115.07 per share, with a total value of $172,605.00. Following the transaction, the chief executive officer directly owned 45,267 shares in the company, valued at approximately $5,208,873.69. This trade represents a 3.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jaewon Ryu acquired 1,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was acquired at an average cost of $115.00 per share, for a total transaction of $172,500.00. Following the completion of the purchase, the director directly owned 3,727 shares in the company, valued at $428,605. This trade represents a 67.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 5,500 shares of company stock worth $633,590 over the last 90 days. Company insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TFX. Wells Fargo & Company lowered their price objective on Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Mizuho raised their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Wall Street Zen lowered Teleflex from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Royal Bank Of Canada raised their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Teleflex presently has a consensus rating of "Hold" and an average price target of $141.57.

Teleflex Trading Up 1.2%

NYSE:TFX traded up $1.53 during trading hours on Friday, hitting $130.62. 624,076 shares of the company were exchanged, compared to its average volume of 540,424. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.82 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 one year low of $108.90 and a one year high of $249.90. The company has a fifty day simple moving average of $119.91 and a 200 day simple moving average of $127.67.

Teleflex (NYSE:TFX - Get Free Report) last announced its earnings results 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 during 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%.Teleflex's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $3.42 EPS. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Sell-side analysts expect that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. Teleflex's dividend payout ratio (DPR) is currently 32.00%.

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.