First Trust Advisors LP lowered its stake in Teleflex Incorporated (NYSE:TFX) by 72.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 22,354 shares of the medical technology company’s stock after selling 57,559 shares during the period. First Trust Advisors LP’s holdings in Teleflex were worth $8,136,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellevest Inc. boosted its holdings in shares of Teleflex by 102.1% in the 1st quarter. Ellevest Inc. now owns 95 shares of the medical technology company’s stock valued at $28,000 after buying an additional 48 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Teleflex by 816.7% in the 1st quarter. Contravisory Investment Management Inc. now owns 110 shares of the medical technology company’s stock valued at $32,000 after buying an additional 98 shares during the period. Signaturefd LLC boosted its holdings in shares of Teleflex by 431.8% in the 1st quarter. Signaturefd LLC now owns 117 shares of the medical technology company’s stock valued at $34,000 after buying an additional 95 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Teleflex in the 2nd quarter valued at about $71,000. Finally, CSat Investment Advisory L.P. boosted its holdings in shares of Teleflex by 32.1% in the 1st quarter. CSat Investment Advisory L.P. now owns 255 shares of the medical technology company’s stock valued at $74,000 after buying an additional 62 shares during the period. 91.20% of the stock is owned by institutional investors.
Teleflex stock opened at $373.10 on Friday. The firm has a 50-day moving average price of $368.12 and a two-hundred day moving average price of $350.56. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 2.92 and a beta of 1.01. Teleflex Incorporated has a 52-week low of $221.27 and a 52-week high of $405.07. The company has a quick ratio of 2.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.78.
Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.68. The company had revenue of $567.00 million during the quarter, compared to analyst estimates of $537.85 million. Teleflex had a net margin of 18.99% and a return on equity of 17.15%. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.66 EPS. Research analysts expect that Teleflex Incorporated will post 10.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, August 13th. Teleflex’s dividend payout ratio is currently 12.20%.
In other news, CAO John Deren sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $330.10, for a total value of $360,799.30. Following the completion of the sale, the chief accounting officer now directly owns 1,253 shares of the company’s stock, valued at approximately $413,615.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $386.35, for a total transaction of $77,270.00. Following the completion of the sale, the director now owns 1,321 shares in the company, valued at $510,368.35. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.
Several research analysts have recently commented on the stock. SVB Leerink lifted their price target on shares of Teleflex from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Piper Sandler decreased their price target on shares of Teleflex from $425.00 to $375.00 and set an “overweight” rating for the company in a report on Friday, May 1st. UBS Group decreased their price target on shares of Teleflex from $440.00 to $410.00 and set a “buy” rating for the company in a report on Friday, May 1st. Needham & Company LLC reissued a “buy” rating and set a $431.00 target price on shares of Teleflex in a research note on Thursday, April 30th. Finally, JMP Securities reduced their target price on shares of Teleflex from $395.00 to $385.00 and set a “market outperform” rating for the company in a research note on Friday, May 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Teleflex presently has a consensus rating of “Buy” and a consensus target price of $389.40.
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. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.
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