Sanctuary Advisors LLC Takes $918,000 Position in Teleflex Incorporated (NYSE:TFX)

Sanctuary Advisors LLC bought a new stake in shares of Teleflex Incorporated (NYSE:TFX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,440 shares of the medical technology company’s stock, valued at approximately $918,000.

A number of other large investors also recently added to or reduced their stakes in TFX. Riverview Trust Co acquired a new stake in shares of Teleflex in the first quarter worth approximately $31,000. Pineridge Advisors LLC acquired a new stake in Teleflex during the 4th quarter worth $35,000. Canada Pension Plan Investment Board purchased a new stake in shares of Teleflex during the second quarter worth $42,000. Versant Capital Management Inc raised its position in shares of Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after buying an additional 207 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after buying an additional 93 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Up 0.6 %

Shares of NYSE:TFX opened at $236.03 on Friday. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 42.38, a PEG ratio of 2.13 and a beta of 1.16. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The business has a 50-day moving average price of $240.18 and a 200 day moving average price of $222.55. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The business had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same period last year, the business earned $3.41 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts expect that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. Teleflex’s dividend payout ratio is presently 24.42%.

Analyst Ratings Changes

A number of analysts have commented on the stock. 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 report on Monday, August 5th. Royal Bank of Canada lifted their price objective on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Stephens upped their target price on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Teleflex currently has an average rating of “Moderate Buy” and a consensus target price of $267.71.

Insider Activity at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is currently owned by company insiders.

About Teleflex

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.