Teleflex Incorporated (NYSE:TFX) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Teleflex Incorporated (NYSE:TFX) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,139 shares of the medical technology company’s stock after selling 113 shares during the quarter. Truist Financial Corp’s holdings in Teleflex were worth $1,712,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Teleflex in the 1st quarter valued at $31,000. Pineridge Advisors LLC acquired a new position in shares of Teleflex in the fourth quarter worth about $35,000. Canada Pension Plan Investment Board purchased a new stake in shares of Teleflex during the 2nd quarter worth about $42,000. Versant Capital Management Inc grew its position in shares of Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Teleflex by 78.2% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stuart A. Randle sold 2,674 shares of the 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 sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TFX has been the topic of several research analyst reports. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $245.00 in a report on Monday, July 1st. Royal Bank of Canada lifted their price target on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday. 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. Finally, Stephens boosted their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $267.71.

Teleflex Stock Up 0.6 %

TFX stock opened at $236.03 on Friday. 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 firm has a 50-day moving average of $240.21 and a two-hundred day moving average of $222.39. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 2.13 and a beta of 1.16.

Teleflex (NYSE:TFX) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $3.41 earnings per share. As a group, analysts forecast that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Announces Dividend

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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 15th. Teleflex’s dividend payout ratio is currently 21.83%.

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.