Public Employees Retirement Association of Colorado Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Public Employees Retirement Association of Colorado lessened its stake in Teleflex Incorporated (NYSE:TFX) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,174 shares of the medical technology company’s stock after selling 408 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.13% of Teleflex worth $12,446,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TFX. Riverview Trust Co purchased a new position in shares of Teleflex in the first quarter valued at $31,000. Pineridge Advisors LLC purchased a new position in Teleflex in the 4th quarter valued at about $35,000. Versant Capital Management Inc grew its stake in shares of Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares in the last quarter. Blue Trust Inc. increased its position in shares of Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 93 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Teleflex by 67.2% in the fourth quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock valued at $57,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated Friday, August 16th. The shares were 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 $1,313,159.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Teleflex Stock Performance

Shares of TFX opened at $242.50 on Friday. 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 Incorporated has a 1 year low of $177.63 and a 1 year high of $257.85. The firm has a fifty day moving average of $235.35 and a 200-day moving average of $220.51. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16.

Teleflex (NYSE:TFX) last posted its 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. The firm had revenue of $749.70 million during 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%. Teleflex’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.41 EPS. As a group, equities analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s payout ratio is currently 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.