Northern Trust Corp Trims Stock Holdings in Teleflex Incorporated $TFX

Key Points

• Northern Trust Corp reduced its stake in Teleflex Incorporated (NYSE:TFX) by 34.2%, selling 158,181 shares during the first quarter and now owns 304,665 shares worth approximately $42 million.
• Dimensional Fund Advisors LP and Diamond Hill Capital Management Inc. significantly increased their stakes in Teleflex by 69.5% and 122.8% respectively during the same quarter.
• Teleflex's stock recently declined by 2.5% and currently holds a market capitalization of $5.58 billion, with analysts rating the stock as an average "Hold" and a consensus price target of $141.57.

Northern Trust Corp cut its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 304,665 shares of the medical technology company's stock after selling 158,181 shares during the quarter. Northern Trust Corp owned about 0.69% of Teleflex worth $42,102,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Teleflex by 69.5% during the first quarter. Dimensional Fund Advisors LP now owns 867,864 shares of the medical technology company's stock worth $119,927,000 after acquiring an additional 355,720 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Teleflex by 122.8% during the first quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock worth $80,784,000 after acquiring an additional 322,222 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Teleflex by 229.9% during the first quarter. Principal Financial Group Inc. now owns 230,522 shares of the medical technology company's stock worth $31,856,000 after acquiring an additional 160,646 shares in the last quarter. Deutsche Bank AG boosted its stake in Teleflex by 62.5% during the fourth quarter. Deutsche Bank AG now owns 407,129 shares of the medical technology company's stock worth $72,461,000 after acquiring an additional 156,524 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Teleflex by 2,440.9% during the first quarter. Public Sector Pension Investment Board now owns 147,298 shares of the medical technology company's stock worth $20,355,000 after acquiring an additional 141,501 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFX has been the topic of several research analyst reports. Wall Street Zen lowered shares of Teleflex from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada increased 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. 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 note on Friday, August 1st. Wells Fargo & Company cut their target price on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Truist Financial dropped their price objective on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $141.57.

Teleflex Stock Up 0.3%

NYSE:TFX traded up $0.36 on Friday, hitting $126.58. The stock had a trading volume of 440,766 shares, compared to its average volume of 553,830. Teleflex Incorporated has a 1 year low of $108.90 and a 1 year high of $249.90. The firm's fifty day simple moving average is $119.05 and its two-hundred day simple moving average is $128.84. 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 stock has a market cap of $5.59 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08.

Teleflex (NYSE:TFX - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.37. The company 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 quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.42 earnings per share. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.1%. Teleflex's dividend payout ratio (DPR) is currently 32.00%.

Insider Activity

In other Teleflex news, Director Gretchen R. Haggerty bought 500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $114.75 per share, with a total value of $57,375.00. Following the transaction, the director directly owned 6,305 shares in the company, valued at $723,498.75. This trade represents a 8.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Liam Kelly bought 1,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $115.07 per share, with a total value of $172,605.00. Following the completion of the transaction, the chief executive officer owned 45,267 shares in the company, valued at approximately $5,208,873.69. The trade was a 3.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 5,500 shares of company stock worth $633,590. 1.40% of the stock is owned by insiders.

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.