Massachusetts Financial Services Co. MA Lowers Holdings in Teleflex Incorporated (NYSE:TFX)

Massachusetts Financial Services Co. MA trimmed its holdings in Teleflex Incorporated (NYSE:TFX) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 425,695 shares of the medical technology company’s stock after selling 4,324 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Teleflex were worth $89,536,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Kentucky Retirement Systems grew its position in Teleflex by 1.1% in the fourth quarter. Kentucky Retirement Systems now owns 3,760 shares of the medical technology company’s stock worth $938,000 after acquiring an additional 42 shares during the period. Oregon Public Employees Retirement Fund lifted 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 purchasing an additional 46 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Teleflex by 1.9% during the second 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 in the last quarter. KBC Group NV lifted its stake in Teleflex by 1.8% during the fourth quarter. KBC Group NV now owns 3,173 shares of the medical technology company’s stock worth $791,000 after purchasing an additional 55 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in Teleflex by 3.9% during the first quarter. Empirical Finance LLC now owns 1,564 shares of the medical technology company’s stock worth $354,000 after purchasing an additional 58 shares in the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada upped 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. Stephens upped 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. Truist Financial upped 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. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on 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 owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by corporate insiders.

Teleflex Stock Up 0.0 %

Shares of NYSE TFX opened at $241.53 on Thursday. The stock has a market cap of $11.38 billion, a P/E ratio of 38.77, a PEG ratio of 2.23 and a beta of 1.16. The business’s fifty day simple moving average is $234.49 and its 200-day simple moving average is $220.23. 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 Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. Teleflex’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. As a group, equities analysts predict 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. Investors of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is presently 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.