Westwood Holdings Group Inc. Buys 31,104 Shares of Teleflex Incorporated (NYSE:TFX)

Westwood Holdings Group Inc. increased its stake in shares of Teleflex Incorporated (NYSE:TFX) by 54.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,329 shares of the medical technology company’s stock after buying an additional 31,104 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Teleflex were worth $18,578,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TFX. Quadrant Capital Group LLC grew its stake in Teleflex by 67.2% in the 4th 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 period. Norges Bank bought a new position in Teleflex in the 4th quarter valued at $118,665,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Teleflex by 31.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,107 shares of the medical technology company’s stock valued at $276,000 after purchasing an additional 262 shares during the period. PNC Financial Services Group Inc. grew its stake in Teleflex by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 18,089 shares of the medical technology company’s stock valued at $4,510,000 after purchasing an additional 1,018 shares during the period. Finally, US Bancorp DE grew its stake in Teleflex by 69.7% in the 4th quarter. US Bancorp DE now owns 11,884 shares of the medical technology company’s stock valued at $2,963,000 after purchasing an additional 4,881 shares during the period. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of TFX opened at $242.50 on Friday. The stock’s 50-day simple moving average is $235.35 and its 200 day simple moving average is $220.51. The stock has a market capitalization 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. 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 52-week low of $177.63 and a 52-week high of $257.85.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The business had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 EPS. Research analysts forecast that Teleflex Incorporated will post 13.97 EPS for the current fiscal 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 $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.56%. Teleflex’s dividend payout ratio is currently 21.83%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,313,159.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

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.