Atria Investments LLC acquired a new stake in shares of Teleflex Incorporated (NYSE:TFX – Get Rating) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,965 shares of the medical technology company’s stock, valued at approximately $1,052,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. City State Bank bought a new stake in Teleflex in the fourth quarter worth $27,000. Harel Insurance Investments & Financial Services Ltd. increased its position in Teleflex by 62.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 114 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 44 shares during the last quarter. Aquire Wealth Advisors LLC bought a new stake in Teleflex in the fourth quarter worth $38,000. Ten Capital Wealth Advisors LLC bought a new stake in Teleflex in the fourth quarter worth $43,000. Finally, Quent Capital LLC bought a new stake in Teleflex in the fourth quarter worth $48,000. Institutional investors own 92.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on TFX shares. Bank of America started coverage on shares of Teleflex in a research report on Monday, May 9th. They issued a “neutral” rating and a $315.00 price target on the stock. TheStreet cut shares of Teleflex from a “b-” rating to a “c+” rating in a research report on Monday, May 16th. Morgan Stanley cut their price objective on shares of Teleflex from $343.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Truist Financial cut their price objective on shares of Teleflex to $270.00 in a research report on Friday, July 22nd. Finally, Wolfe Research assumed coverage on shares of Teleflex in a research report on Tuesday, July 5th. They set an “outperform” rating and a $300.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $368.77.
Teleflex Stock Up 1.5 %
Teleflex (NYSE:TFX – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The medical technology company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.15. Teleflex had a net margin of 17.31% and a return on equity of 17.24%. The company had revenue of $641.70 million during the quarter, compared to analyst estimates of $631.89 million. During the same period in the prior year, the firm earned $2.87 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Teleflex Incorporated will post 13.94 EPS for the current fiscal year.
Teleflex Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Monday, May 16th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, May 13th. Teleflex’s dividend payout ratio (DPR) is presently 13.22%.
Insider Buying and Selling
In related news, Director Stuart A. Randle sold 3,014 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $283.31, for a total value of $853,896.34. Following the completion of the sale, the director now directly owns 4,320 shares of the company’s stock, valued at $1,223,899.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.28% of the stock is owned by insiders.
Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It 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.
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