Teleflex Incorporated $TFX Stake Lowered by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Teleflex Incorporated by 54.8% in Q2, now owning 10,071 shares valued at approximately $1.19 million.
• Teleflex reported strong Q2 earnings with an EPS of $3.73, exceeding estimates, and a 4.2% year-over-year revenue increase, totaling $780.90 million.
• The company declared a quarterly dividend of $0.34 per share, translating to an annualized dividend yield of 1.1%.

Assenagon Asset Management S.A. cut its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 54.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,071 shares of the medical technology company's stock after selling 12,216 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Teleflex were worth $1,192,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Teleflex by 242.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 216 shares of the medical technology company's stock worth $26,000 after buying an additional 153 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company's stock worth $27,000 after buying an additional 100 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Teleflex in the 1st quarter worth approximately $27,000. Costello Asset Management INC bought a new position in Teleflex in the 1st quarter worth approximately $28,000. Finally, Brooklyn Investment Group grew its holdings in Teleflex by 258.6% in the 1st quarter. Brooklyn Investment Group now owns 208 shares of the medical technology company's stock worth $29,000 after buying an additional 150 shares in the last quarter. 95.62% of the stock is owned by institutional investors.

Teleflex Stock Performance

TFX opened at $120.13 on Friday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.41 and a quick ratio of 1.44. Teleflex Incorporated has a 1-year low of $108.90 and a 1-year high of $249.90. The business has a 50 day moving average price of $122.42 and a two-hundred day moving average price of $125.25.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 EPS for the quarter, beating analysts' consensus estimates of $3.36 by $0.37. Teleflex had a return on equity of 15.08% and a net margin of 6.31%.The company had revenue of $780.90 million during the quarter, compared to the consensus estimate of $771.53 million. During the same quarter in the prior year, the firm earned $3.42 EPS. The company's quarterly revenue was up 4.2% compared to the same quarter last year. Teleflex has set its FY 2025 guidance at 13.900-14.300 EPS. Research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 15th. Teleflex's dividend payout ratio is 32.00%.

Insider Activity at Teleflex

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TFX shares. Wells Fargo & Company decreased their price objective on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Wall Street Zen lowered Teleflex from a "strong-buy" rating to a "buy" rating in a report on Monday, September 15th. Mizuho increased their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada increased their price objective on Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $141.57.

Teleflex Company 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.

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