Principal Financial Group Inc. Has $19.89 Million Stock Position in Teleflex Incorporated (NYSE:TFX)

Principal Financial Group Inc. grew its stake in Teleflex Incorporated (NYSE:TFX) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 80,409 shares of the medical technology company’s stock after acquiring an additional 2,086 shares during the quarter. Principal Financial Group Inc.’s holdings in Teleflex were worth $19,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Cromwell Holdings LLC grew its position in Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 49 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex in the 2nd quarter valued at $42,000. GAMMA Investing LLC grew its holdings in shares of Teleflex by 131.1% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 97 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Teleflex by 78.2% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 93 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Teleflex Trading Down 0.8 %

Shares of TFX opened at $193.98 on Thursday. The stock’s fifty day simple moving average is $233.46 and its 200-day simple moving average is $223.73. The firm has a market capitalization of $9.01 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. Teleflex Incorporated has a 12-month low of $193.49 and a 12-month high of $257.85. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.11. The firm had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.64 EPS. As a group, research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. Teleflex’s payout ratio is presently 27.04%.

Insiders Place Their Bets

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

TFX has been the subject of several recent analyst reports. Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial reaffirmed a “hold” rating and set a $227.00 price target (down from $255.00) on shares of Teleflex in a report on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada cut their price target on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

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.