US Bancorp DE Cuts Position in Teleflex Incorporated (NYSE:TFX)

US Bancorp DE lowered its position in shares of Teleflex Incorporated (NYSE:TFX) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,758 shares of the medical technology company’s stock after selling 123 shares during the quarter. US Bancorp DE’s holdings in Teleflex were worth $1,671,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its stake in Teleflex by 1.2% during the second quarter. Oregon Public Employees Retirement Fund now owns 4,021 shares of the medical technology company’s stock worth $846,000 after buying an additional 46 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 49 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Teleflex by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 2,779 shares of the medical technology company’s stock worth $584,000 after purchasing an additional 53 shares during the period. Empirical Finance LLC increased its holdings in Teleflex by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock valued at $354,000 after purchasing an additional 58 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Teleflex by 0.3% in the second quarter. SRS Capital Advisors Inc. now owns 19,527 shares of the medical technology company’s stock valued at $4,107,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

TFX has been the subject of several analyst reports. Royal Bank of Canada decreased their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Stephens upped their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, November 1st. Truist Financial reissued a “hold” rating and issued a $227.00 price objective (down from $255.00) on shares of Teleflex in a research report on Monday. Finally, Mizuho dropped their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.25.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.43% of the stock is owned by insiders.

Teleflex Price Performance

Shares of TFX opened at $201.92 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The company has a market cap of $9.38 billion, a P/E ratio of 40.14, a PEG ratio of 2.12 and a beta of 1.18. Teleflex Incorporated has a 12 month low of $195.51 and a 12 month high of $257.85. The stock has a fifty day moving average price of $237.29 and a 200 day moving average price of $223.96.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. The business had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.64 EPS. On average, research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.67%. Teleflex’s dividend payout ratio is presently 27.04%.

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.