Teleflex Incorporated (NYSE:TFX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 41.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,301 shares of the medical technology company’s stock after buying an additional 7,132 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Teleflex were worth $6,010,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC raised its position in Teleflex by 12.0% in the first 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 in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Teleflex by 564.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock worth $65,304,000 after purchasing an additional 263,743 shares during the period. Cooke & Bieler LP grew its stake in shares of 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 purchasing an additional 172,335 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Teleflex in the 2nd quarter valued at about $25,550,000. Finally, National Bank of Canada FI lifted its stake in shares of Teleflex by 1,008.2% in the second quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock valued at $24,388,000 after purchasing an additional 104,935 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens upped their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their target price on Teleflex from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and raised their price target for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Teleflex has an average rating of “Moderate Buy” and an average target price of $268.86.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.43% of the company’s stock.

Teleflex Price Performance

Shares of NYSE:TFX opened at $233.63 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The business’s fifty day moving average price is $241.03 and its two-hundred day moving average price is $223.68. The stock has a market cap of $11.00 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. Teleflex Incorporated has a one year low of $177.63 and a one year high of $257.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 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 business had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same quarter last year, the company earned $3.41 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.58%. Teleflex’s dividend payout ratio (DPR) is presently 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.