Teleflex Incorporated (NYSE:TFX) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its stake in shares of Teleflex Incorporated (NYSE:TFX) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,078 shares of the medical technology company’s stock after selling 207 shares during the quarter. Wealthspire Advisors LLC’s holdings in Teleflex were worth $1,278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Teleflex in the 2nd quarter valued at about $469,000. GHP Investment Advisors Inc. lifted its stake in Teleflex by 19.1% during the second quarter. GHP Investment Advisors Inc. now owns 10,339 shares of the medical technology company’s stock valued at $2,175,000 after purchasing an additional 1,660 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Teleflex by 1,388.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 108,516 shares of the medical technology company’s stock valued at $22,331,000 after purchasing an additional 101,226 shares during the last quarter. Main Street Financial Solutions LLC grew its position in Teleflex by 3.1% in the second quarter. Main Street Financial Solutions LLC now owns 3,393 shares of the medical technology company’s stock worth $714,000 after buying an additional 103 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Teleflex by 4.6% in the second quarter. American Century Companies Inc. now owns 9,509 shares of the medical technology company’s stock valued at $2,000,000 after buying an additional 420 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred 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 directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TFX shares. Royal Bank of Canada boosted their target price on Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stephens increased 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. Truist Financial upped their target price on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

Teleflex Trading Up 1.4 %

Shares of NYSE TFX opened at $246.05 on Monday. The business has a 50 day simple moving average of $232.92 and a 200 day simple moving average of $219.78. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $257.85. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 2.20 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58.

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

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.34 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. Teleflex’s dividend payout ratio is currently 21.83%.

Teleflex 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.