Wealth Enhancement Advisory Services LLC Cuts Holdings in Teleflex Incorporated (NYSE:TFX)

Wealth Enhancement Advisory Services LLC lessened its position in shares of Teleflex Incorporated (NYSE:TFX) by 12.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,840 shares of the medical technology company’s stock after selling 259 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Teleflex were worth $387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Teleflex by 1.8% during the 1st 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 during the period. Janus Henderson Group PLC lifted its position in 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 valued at $1,223,424,000 after buying an additional 581,312 shares in the last quarter. Wellington Management Group LLP grew its stake in Teleflex by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock worth $622,494,000 after buying an additional 52,533 shares during the period. Norges Bank acquired a new stake in shares of Teleflex in the fourth quarter worth $118,665,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Teleflex by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock worth $107,949,000 after acquiring an additional 35,847 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFX has been the subject of a number of research reports. Royal Bank of Canada upped their price target on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Truist Financial increased their price objective on shares of Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

Insider Activity at Teleflex

In other Teleflex 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 transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.43% of the stock is owned by corporate insiders.

Teleflex Price Performance

TFX stock opened at $242.41 on Friday. The stock’s 50 day moving average is $221.51 and its two-hundred day moving average is $220.03. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85. The company has a market capitalization of $11.42 billion, a PE ratio of 38.91, a P/E/G ratio of 2.16 and a beta of 1.13. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 earnings per share. Analysts predict that Teleflex Incorporated will post 13.96 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.56%. Teleflex’s dividend payout ratio (DPR) is 21.83%.

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.