Johnson Investment Counsel Inc. Has $1.50 Million Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Johnson Investment Counsel Inc. reduced its holdings in Teleflex Incorporated (NYSE:TFX) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,152 shares of the medical technology company’s stock after selling 161 shares during the period. Johnson Investment Counsel Inc.’s holdings in Teleflex were worth $1,504,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Riverview Trust Co acquired a new stake in Teleflex in the first quarter valued at $31,000. Pineridge Advisors LLC acquired a new position in Teleflex during the 4th quarter worth about $35,000. Versant Capital Management Inc grew its position in shares of Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after buying an additional 207 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after buying an additional 93 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Teleflex by 67.2% during the fourth quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock worth $57,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TFX. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $205.00 to $245.00 in a report on Monday, July 1st. Royal Bank of Canada upped their price objective on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial increased their price objective on shares of Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Stephens boosted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Teleflex Price Performance

Shares of TFX opened at $246.02 on Friday. The business’s fifty day moving average is $232.92 and its 200 day moving average is $219.86. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The stock has a market cap of $11.59 billion, a P/E ratio of 39.49, a P/E/G ratio of 2.22 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. During the same period last year, the company earned $3.41 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. Teleflex’s dividend payout ratio is presently 21.83%.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.43% of the stock is owned by insiders.

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.