Teleflex Incorporated (NYSE:TFX) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 80.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,799 shares of the medical technology company’s stock after acquiring an additional 802 shares during the period. Public Sector Pension Investment Board’s holdings in Teleflex were worth $378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TFX. ProShare Advisors LLC lifted its stake in shares of Teleflex by 3.5% in the 2nd quarter. ProShare Advisors LLC now owns 12,633 shares of the medical technology company’s stock valued at $2,657,000 after purchasing an additional 433 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Teleflex by 54.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 88,329 shares of the medical technology company’s stock valued at $18,578,000 after purchasing an additional 31,104 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Teleflex by 20.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 17,567 shares of the medical technology company’s stock valued at $3,695,000 after purchasing an additional 2,947 shares during the period. Sei Investments Co. lifted its stake in shares of Teleflex by 172.2% in the 2nd quarter. Sei Investments Co. now owns 62,632 shares of the medical technology company’s stock valued at $13,173,000 after purchasing an additional 39,620 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Teleflex in the 2nd quarter valued at $42,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Price Performance

Teleflex stock opened at $239.54 on Friday. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.24 and a beta of 1.16. The company has a fifty day simple moving average of $239.13 and a 200-day simple moving average of $221.86. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX) last released 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. 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 analyst estimates of $762.98 million. During the same quarter in the prior year, the firm earned $3.41 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate 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. Stockholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s payout ratio is 21.83%.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction dated 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 sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TFX shares. Truist Financial boosted their target price on shares of Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price target on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Stephens boosted their price target on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

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.