Vanguard Group Inc. reduced its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,083,650 shares of the medical technology company's stock after selling 461,870 shares during the quarter. Vanguard Group Inc. owned 10.96% of Teleflex worth $702,510,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Costello Asset Management INC purchased a new stake in Teleflex during the first quarter worth approximately $28,000. PNC Financial Services Group Inc. boosted its stake in shares of Teleflex by 12.3% in the first quarter. PNC Financial Services Group Inc. now owns 17,801 shares of the medical technology company's stock valued at $2,460,000 after purchasing an additional 1,952 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Teleflex by 112.4% in the first quarter. Alberta Investment Management Corp now owns 24,000 shares of the medical technology company's stock valued at $3,317,000 after purchasing an additional 12,700 shares during the period. US Bancorp DE boosted its stake in shares of Teleflex by 8.0% in the first quarter. US Bancorp DE now owns 6,440 shares of the medical technology company's stock valued at $890,000 after purchasing an additional 475 shares during the period. Finally, Goodman Financial Corp boosted its stake in shares of Teleflex by 1.8% in the first quarter. Goodman Financial Corp now owns 76,495 shares of the medical technology company's stock valued at $10,571,000 after purchasing an additional 1,330 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.
Teleflex Stock Performance
Shares of NYSE:TFX traded down $0.50 on Friday, reaching $121.00. 322,158 shares of the company's stock were exchanged, compared to its average volume of 797,540. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.71 and a beta of 1.08. Teleflex Incorporated has a fifty-two week low of $108.90 and a fifty-two week high of $249.90. The business's 50-day moving average is $117.97 and its two-hundred day moving average is $133.22. The company has a quick ratio of 1.44, a current ratio of 2.41 and a debt-to-equity ratio of 0.42.
Teleflex (NYSE:TFX - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.36 by $0.37. The company had revenue of $780.90 million for the quarter, compared to analysts' expectations of $771.53 million. Teleflex had a net margin of 6.31% and a return on equity of 15.08%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.42 earnings per share. As a group, equities research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.
Teleflex Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued 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 of this dividend is Friday, August 15th. Teleflex's dividend payout ratio is 32.00%.
Insider Activity at Teleflex
In other news, Director Andrew A. Krakauer acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average price of $115.25 per share, with a total value of $115,250.00. Following the acquisition, the director directly owned 7,192 shares in the company, valued at approximately $828,878. The trade was a 16.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gretchen R. Haggerty acquired 500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $114.75 per share, for a total transaction of $57,375.00. Following the acquisition, 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. Insiders acquired 5,500 shares of company stock valued at $633,590 in the last ninety days. 1.40% of the stock is owned by insiders.
Wall Street Analyst Weigh In
TFX has been the subject of several analyst reports. Morgan Stanley decreased 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 upped their target price on shares of Teleflex from $130.00 to $135.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Wells Fargo & Company cut their price target on shares of Teleflex from $137.00 to $131.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Wall Street Zen raised shares of Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Finally, Truist Financial cut their price target on shares of Teleflex from $140.00 to $137.00 and set a "hold" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Teleflex has an average rating of "Hold" and a consensus price target of $141.57.
Read Our Latest Report on TFX
Teleflex Profile
(
Free Report)
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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