Insider Selling: Teleflex Incorporated (NYSE:TFX) Director Sells $638,898.82 in Stock

Teleflex Incorporated (NYSE:TFX) Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares in the company, valued at $1,313,159.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Teleflex Stock Up 0.7 %

Shares of TFX stock opened at $239.25 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. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85. The firm has a market capitalization of $11.27 billion, a PE ratio of 38.40, a P/E/G ratio of 2.10 and a beta of 1.13. The stock’s 50-day simple moving average is $218.46 and its 200-day simple moving average is $220.14.

Teleflex (NYSE:TFX) last issued 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. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. During the same quarter in the prior year, the company earned $3.41 EPS. Teleflex’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect that Teleflex Incorporated will post 13.96 earnings per share for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.57%. Teleflex’s dividend payout ratio is presently 21.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and increased their target price for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Royal Bank of Canada increased their price objective on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Truist Financial increased their price target on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, Stephens boosted their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $265.57.

Institutional Investors Weigh In On Teleflex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in shares of Teleflex by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after buying an additional 581,312 shares during the period. Norges Bank purchased a new position in Teleflex during the fourth quarter valued at approximately $118,665,000. Point72 Asset Management L.P. lifted its holdings in Teleflex by 564.3% in the second quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company’s stock valued at $65,304,000 after acquiring an additional 263,743 shares during the period. Cooke & Bieler LP boosted its position in Teleflex by 23.3% in 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 in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Teleflex during the 2nd quarter worth approximately $25,550,000. 95.62% of the stock is owned by institutional investors and hedge funds.

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.