Czech National Bank Grows Stake in Teleflex Incorporated (NYSE:TFX)

Czech National Bank lifted its position in Teleflex Incorporated (NYSE:TFX) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,598 shares of the medical technology company’s stock after purchasing an additional 623 shares during the quarter. Czech National Bank’s holdings in Teleflex were worth $2,374,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TFX. Vanguard Group Inc. lifted its position in Teleflex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after acquiring an additional 96,711 shares during the period. Janus Henderson Group PLC lifted its position in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after acquiring an additional 581,312 shares during the period. Wellington Management Group LLP lifted its position in Teleflex by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock worth $622,494,000 after acquiring an additional 52,533 shares during the period. Cooke & Bieler LP lifted its position in Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after acquiring an additional 172,335 shares during the period. Finally, TD Asset Management Inc lifted its position in Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock worth $95,928,000 after acquiring an additional 48,832 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TFX shares. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price target on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Truist Financial raised their price target on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Teleflex has a consensus rating of “Moderate Buy” and a consensus target price of $267.71.

Teleflex Stock Performance

NYSE TFX opened at $236.03 on Friday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $257.85. The company has a market capitalization of $11.12 billion, a P/E ratio of 42.38, a PEG ratio of 2.13 and a beta of 1.16. The business has a 50 day moving average price of $240.18 and a 200 day moving average price of $222.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44.

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

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given 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 of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio is currently 24.42%.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex 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 completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.

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.