Wellington Management Group LLP Has $1.14 Billion Holdings in Teleflex Incorporated (NYSE:TFX)

Wellington Management Group LLP lessened its stake in shares of Teleflex Incorporated (NYSE:TFXGet Rating) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,209,418 shares of the medical technology company’s stock after selling 129,934 shares during the period. Wellington Management Group LLP owned about 6.84% of Teleflex worth $1,138,796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC purchased a new position in Teleflex during the 4th quarter valued at about $48,000. City State Bank bought a new stake in shares of Teleflex in the 4th quarter valued at approximately $27,000. Standard Family Office LLC bought a new stake in shares of Teleflex in the 1st quarter valued at approximately $62,000. Manchester Capital Management LLC bought a new stake in shares of Teleflex in the 1st quarter valued at approximately $103,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Teleflex by 41.7% in the 1st quarter. SRS Capital Advisors Inc. now owns 554 shares of the medical technology company’s stock valued at $197,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Teleflex Stock Up 2.0 %

Shares of TFX stock opened at $242.15 on Monday. The stock has a 50 day moving average of $244.99 and a 200-day moving average of $284.13. The company has a quick ratio of 1.43, a current ratio of 2.27 and a debt-to-equity ratio of 0.42. The firm has a market cap of $11.36 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. Teleflex Incorporated has a 12 month low of $219.54 and a 12 month high of $391.39.

Teleflex (NYSE:TFXGet Rating) last issued its earnings results on Thursday, July 28th. The medical technology company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.05. The business had revenue of $704.50 million during the quarter, compared to analyst estimates of $719.50 million. Teleflex had a return on equity of 16.84% and a net margin of 18.16%. Teleflex’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.35 earnings per share. On average, equities analysts predict that Teleflex Incorporated will post 13.14 EPS for the current year.

Teleflex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be paid a $0.34 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.56%. Teleflex’s payout ratio is 12.64%.

Wall Street Analyst Weigh In

TFX has been the subject of several recent research reports. TheStreet cut Teleflex from a “b-” rating to a “c+” rating in a research note on Monday, May 16th. Wells Fargo & Company lowered Teleflex from an “overweight” rating to an “equal weight” rating and set a $248.00 target price for the company. in a report on Friday, July 29th. Morgan Stanley reduced their target price on Teleflex from $300.00 to $278.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. Wolfe Research initiated coverage on Teleflex in a report on Tuesday, July 5th. They issued an “outperform” rating and a $300.00 target price for the company. Finally, Piper Sandler reduced their target price on Teleflex from $295.00 to $265.00 in a report on Thursday, July 28th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $325.60.

About Teleflex

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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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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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