State of New Jersey Common Pension Fund D Sells 8,836 Shares of Teleflex Incorporated (NYSE:TFX)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 35.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,147 shares of the medical technology company’s stock after selling 8,836 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Teleflex were worth $3,396,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TFX. Dimensional Fund Advisors LP boosted its stake in Teleflex by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 356,532 shares of the medical technology company’s stock valued at $88,900,000 after buying an additional 27,048 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Teleflex by 5.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,489 shares of the medical technology company’s stock valued at $371,000 after buying an additional 79 shares during the period. Quadrant Capital Group LLC lifted its stake in Teleflex by 67.2% during the fourth quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock worth $57,000 after purchasing an additional 92 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Teleflex by 28.9% during the fourth quarter. Panagora Asset Management Inc. now owns 4,175 shares of the medical technology company’s stock worth $1,041,000 after purchasing an additional 935 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its stake in Teleflex by 1.1% during the fourth quarter. Kentucky Retirement Systems now owns 3,760 shares of the medical technology company’s stock worth $938,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is owned by company insiders.

Teleflex Trading Down 1.8 %

NYSE TFX opened at $241.50 on Wednesday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $257.85. The firm has a market cap of $11.38 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.20 and a beta of 1.16. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $234.07 and a 200-day moving average of $220.08.

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

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a dividend of $0.34 per share. The ex-dividend date 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 presently 21.83%.

Analyst Ratings Changes

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

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.