Price T Rowe Associates Inc. MD Cuts Position in Teleflex Incorporated (NYSE:TFX)

Price T Rowe Associates Inc. MD trimmed its position in shares of Teleflex Incorporated (NYSE:TFX) by 21.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324,162 shares of the medical technology company’s stock after selling 351,277 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.81% of Teleflex worth $299,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Teleflex during the fourth quarter valued at $118,665,000. Vanguard Group Inc. lifted its position in Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock valued at $1,255,408,000 after purchasing an additional 96,711 shares during the last quarter. Vident Advisory LLC lifted its position in Teleflex by 6,428.1% during the first quarter. Vident Advisory LLC now owns 61,952 shares of the medical technology company’s stock valued at $14,012,000 after purchasing an additional 61,003 shares during the last quarter. First Trust Advisors LP lifted its position in Teleflex by 107.6% during the fourth quarter. First Trust Advisors LP now owns 110,417 shares of the medical technology company’s stock valued at $27,531,000 after purchasing an additional 57,232 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Teleflex by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after purchasing an additional 52,533 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Teleflex Trading Down 1.0 %

TFX stock traded down $2.19 during trading on Friday, hitting $220.30. The company had a trading volume of 500,583 shares, compared to its average volume of 381,919. The firm has a market capitalization of $10.38 billion, a P/E ratio of 35.36, a PEG ratio of 2.13 and a beta of 1.13. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $258.89. The company has a 50 day simple moving average of $212.42 and a 200-day simple moving average of $222.00. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last posted its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, topping the consensus estimate of $3.07 by $0.14. The company had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.09 EPS. As a group, research analysts forecast that Teleflex Incorporated will post 13.75 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, May 14th. Teleflex’s dividend payout ratio (DPR) is 21.83%.

Analysts Set New Price Targets

TFX has been the subject of several research reports. Piper Sandler upgraded shares of 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 report on Monday, July 1st. Truist Financial raised their target price on shares of Teleflex from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $263.14.

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.