Vanguard Group Inc. Sells 461,870 Shares of Teleflex Incorporated (NYSE:TFX)

Vanguard Group Inc. reduced its position in Teleflex Incorporated (NYSE:TFX) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,083,650 shares of the medical technology company’s stock after selling 461,870 shares during the period. Vanguard Group Inc. owned approximately 10.96% of Teleflex worth $702,510,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Teleflex by 0.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 20,320 shares of the medical technology company’s stock worth $3,614,000 after purchasing an additional 74 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Teleflex by 103.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 197 shares of the medical technology company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. True Wealth Design LLC raised its position in Teleflex by 62.3% in the 4th quarter. True Wealth Design LLC now owns 271 shares of the medical technology company’s stock valued at $48,000 after buying an additional 104 shares during the last quarter. Signaturefd LLC raised its position in Teleflex by 38.3% in the 1st quarter. Signaturefd LLC now owns 433 shares of the medical technology company’s stock valued at $60,000 after buying an additional 120 shares during the last quarter. Finally, Empirical Finance LLC raised its position in Teleflex by 7.9% in the 1st quarter. Empirical Finance LLC now owns 1,690 shares of the medical technology company’s stock valued at $234,000 after buying an additional 124 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Andrew A. Krakauer bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $115.25 per share, for a total transaction of $115,250.00. Following the purchase, the director directly owned 7,192 shares in the company, valued at $828,878. This trade represents a 16.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jaewon Ryu bought 1,500 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of $115.00 per share, with a total value of $172,500.00. Following the purchase, the director owned 3,727 shares in the company, valued at $428,605. This trade represents a 67.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 5,500 shares of company stock worth $633,590 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Teleflex Trading Up 3.2%

Shares of TFX opened at $119.62 on Wednesday. The business has a 50-day moving average of $117.98 and a 200 day moving average of $133.72. Teleflex Incorporated has a fifty-two week low of $108.90 and a fifty-two week high of $249.90. The firm has a market cap of $5.29 billion, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.44 and a current ratio of 2.41.

Teleflex (NYSE:TFX) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.36 by $0.37. Teleflex had a return on equity of 15.08% and a net margin of 6.31%. The company had revenue of $780.90 million during the quarter, compared to analyst estimates of $771.53 million. During the same quarter last year, the firm posted $3.42 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts forecast that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.36 annualized dividend and a yield of 1.1%. Teleflex’s dividend payout ratio (DPR) is 32.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TFX. Mizuho increased their price target on Teleflex from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Truist Financial lowered their price target on Teleflex from $140.00 to $137.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Morgan Stanley lowered their price target on Teleflex from $191.00 to $173.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Wall Street Zen raised Teleflex from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company decreased their target price on Teleflex from $137.00 to $131.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. One investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.