Teleflex Incorporated (NYSE:TFX) Position Cut by APG Asset Management N.V.

APG Asset Management N.V. trimmed its stake in shares of Teleflex Incorporated (NYSE:TFX) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,813 shares of the medical technology company’s stock after selling 958 shares during the quarter. APG Asset Management N.V. owned about 0.10% of Teleflex worth $9,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Riverview Trust Co acquired a new stake in Teleflex in the 1st quarter valued at approximately $31,000. Pineridge Advisors LLC bought a new position in Teleflex during the 4th quarter worth approximately $35,000. Canada Pension Plan Investment Board acquired a new stake in shares of Teleflex during the second quarter worth about $42,000. Versant Capital Management Inc boosted its stake in Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 207 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Teleflex by 78.2% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

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

Teleflex Stock Performance

NYSE:TFX opened at $246.83 on Monday. The stock has a market capitalization of $11.63 billion, a PE ratio of 39.62, a P/E/G ratio of 2.23 and a beta of 1.16. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85. The company has a fifty day moving average of $237.48 and a two-hundred day moving average of $221.18. 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 earnings results 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 analyst estimates of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $3.41 earnings per share. As a group, research analysts forecast that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business 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 was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. Teleflex’s 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.