Westwood Holdings Group Inc. Trims Stake in Teleflex Incorporated (NYSE:TFX)

Key Points

• Westwood Holdings Group Inc. reduced its stake in Teleflex by 9.9% in the first quarter, after selling 12,078 shares, now owning approximately 0.24% of the company, valued at $15.2 million.
• Teleflex reported better-than-expected earnings, with $3.73 earnings per share for the quarter, surpassing analysts' estimates of $3.36, and a revenue of $780.90 million, exceeding predictions.
• The company declared a quarterly dividend of $0.34 per share, which will be paid on September 15, indicating a solid payout ratio of 32% and an annualized dividend yield of 1.1%.

Westwood Holdings Group Inc. lessened its stake in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,273 shares of the medical technology company's stock after selling 12,078 shares during the period. Westwood Holdings Group Inc. owned about 0.24% of Teleflex worth $15,239,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. grew its stake in Teleflex by 48.1% during the fourth quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company's stock worth $190,188,000 after buying an additional 347,003 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Teleflex by 122.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 584,586 shares of the medical technology company's stock worth $80,784,000 after buying an additional 322,222 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Teleflex by 4.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company's stock worth $1,098,693,000 after purchasing an additional 261,279 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 purchasing an additional 160,646 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Teleflex by 62.5% in the fourth quarter. Deutsche Bank AG now owns 407,129 shares of the medical technology company's stock worth $72,461,000 after purchasing an additional 156,524 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company's stock.

Insider Activity at Teleflex

In other news, Director Stuart A. Randle purchased 1,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were purchased at an average cost of $115.86 per share, for a total transaction of $115,860.00. Following the purchase, the director directly owned 7,547 shares in the company, valued at approximately $874,395.42. This represents a 15.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Liam Kelly acquired 1,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $115.07 per share, for a total transaction of $172,605.00. Following the purchase, the chief executive officer directly owned 45,267 shares of the company's stock, valued at approximately $5,208,873.69. This trade represents a 3.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 5,500 shares of company stock valued at $633,590 over the last three months. 1.40% of the stock is owned by insiders.

Teleflex Price Performance

NYSE:TFX traded down $1.63 during trading hours on Monday, hitting $116.78. 215,277 shares of the company's stock traded hands, compared to its average volume of 801,951. The firm has a market cap of $5.16 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.65 and a beta of 1.08. Teleflex Incorporated has a 52 week low of $108.90 and a 52 week high of $249.90. The business's fifty day simple moving average is $118.09 and its two-hundred day simple moving average is $134.28. 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 quarterly 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 firm 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%. The company's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.42 earnings per share. On average, research analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 1.2%. Teleflex's dividend payout ratio (DPR) is 32.00%.

Analyst Upgrades and Downgrades

TFX has been the topic of a number of analyst reports. Wall Street Zen raised shares of Teleflex from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada lifted their price objective on shares of Teleflex from $130.00 to $135.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Truist Financial reduced their target price on Teleflex from $140.00 to $137.00 and set a "hold" rating for the company in a report on Monday, May 5th. Wells Fargo & Company reduced their target price on Teleflex from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, Mizuho upped their target price on Teleflex from $130.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Teleflex presently has an average rating of "Hold" and a consensus price target 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.