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

Price T Rowe Associates Inc. MD cut its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 21.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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’s holdings in Teleflex were worth $299,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Teleflex by 1.8% in 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. Wellington Management Group LLP increased its stake in Teleflex by 2.1% in 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. Cooke & Bieler LP lifted its holdings in shares of Teleflex by 5.7% during the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock worth $183,256,000 after purchasing an additional 39,308 shares during the period. Norges Bank acquired a new stake in shares of Teleflex during the fourth quarter worth $118,665,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Teleflex by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock valued at $107,949,000 after acquiring an additional 35,847 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Truist Financial raised their target price on Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Finally, Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $205.00 to $245.00 in a report on Monday, July 1st. Three investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $263.14.

Teleflex Price Performance

Shares of NYSE:TFX traded down $2.19 during midday trading on Friday, hitting $220.30. 500,583 shares of the stock were exchanged, compared to its average volume of 381,919. The stock has a market cap of $10.38 billion, a P/E ratio of 35.36, a PEG ratio of 2.13 and a beta of 1.13. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $258.89. The company has a 50 day moving average price of $212.42 and a 200-day moving average price of $222.00.

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

Teleflex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, May 14th. 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.