Principal Financial Group Inc. Buys 160,646 Shares of Teleflex Incorporated (NYSE:TFX)

Principal Financial Group Inc. lifted its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 229.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 230,522 shares of the medical technology company's stock after purchasing an additional 160,646 shares during the period. Principal Financial Group Inc. owned about 0.50% of Teleflex worth $31,856,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in Teleflex by 103.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Teleflex during the 4th quarter worth $29,000. Whipplewood Advisors LLC raised its stake in shares of Teleflex by 7,700.0% in the 1st quarter. Whipplewood Advisors LLC now owns 234 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 231 shares during the period. True Wealth Design LLC grew its holdings in shares of Teleflex by 62.3% in the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company's stock valued at $48,000 after acquiring an additional 104 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Teleflex by 3,763.6% during the first quarter. UMB Bank n.a. now owns 425 shares of the medical technology company's stock worth $59,000 after purchasing an additional 414 shares during the period. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Teleflex from $191.00 to $173.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Mizuho set a $155.00 price target on shares of Teleflex in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their target price on shares of Teleflex from $146.00 to $137.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a research note on Wednesday, March 12th. Finally, Wall Street Zen lowered Teleflex from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $164.63.

Teleflex Trading Down 0.3%

Shares of Teleflex stock traded down $0.40 during trading hours on Wednesday, hitting $119.28. The company's stock had a trading volume of 14,892 shares, compared to its average volume of 630,670. Teleflex Incorporated has a 1-year low of $115.94 and a 1-year high of $249.91. The company has a quick ratio of 1.32, a current ratio of 2.28 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.27 billion, a PE ratio of 37.72, a P/E/G ratio of 1.83 and a beta of 1.08. The business has a fifty day moving average of $122.41 and a 200 day moving average of $144.75.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.03. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The company had revenue of $700.67 million for the quarter, compared to analysts' expectations of $699.37 million. During the same quarter in the previous year, the company posted $3.21 EPS. The business's revenue was down 5.0% compared to the same quarter last year. As a group, equities analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Tuesday, May 20th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex's dividend payout ratio is 42.90%.

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.