Teleflex Incorporated (NYSE:TFX) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its stake in shares of Teleflex Incorporated (NYSE:TFX) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 68,990 shares of the medical technology company’s stock after selling 1,492 shares during the period. Raymond James & Associates’ holdings in Teleflex were worth $17,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after purchasing an additional 96,711 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. Cooke & Bieler LP lifted its stake in shares of Teleflex by 23.3% during the second quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Teleflex by 12.0% during the second quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after purchasing an additional 48,832 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Teleflex by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock worth $89,526,000 after purchasing an additional 26,325 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Down 0.8 %

Shares of Teleflex stock opened at $233.63 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.01 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.15 and a beta of 1.16. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85. The business has a 50-day moving average price of $241.03 and a 200 day moving average price of $223.68.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. Teleflex’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $3.41 earnings per share. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, August 15th. Teleflex’s dividend payout ratio is currently 24.42%.

Wall Street Analyst Weigh In

A number of research analysts have commented on TFX shares. Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial boosted their price target on Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada boosted their price target on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $268.86.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.43% of the company’s stock.

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.