Allspring Global Investments Holdings LLC Grows Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Allspring Global Investments Holdings LLC lifted its position in Teleflex Incorporated (NYSE:TFX) by 243.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,722 shares of the medical technology company’s stock after buying an additional 16,110 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Teleflex were worth $5,666,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after acquiring an additional 103 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Teleflex in the third quarter valued at approximately $27,000. Covestor Ltd grew its holdings in shares of Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Teleflex by 418.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after buying an additional 113 shares during the period. Finally, ING Groep NV acquired a new stake in Teleflex during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TFX. JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Truist Financial reduced their price target on Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reduced their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $267.50.

Insiders Place Their Bets

In other news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Teleflex Price Performance

TFX stock opened at $207.38 on Friday. The business has a 50 day moving average price of $226.40 and a 200 day moving average price of $225.08. The company has a quick ratio of 1.29, a current ratio of 2.32 and a debt-to-equity ratio of 0.39. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.01 and a beta of 1.11. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $276.43.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.12. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The business had revenue of $773.90 million during the quarter, compared to the consensus estimate of $769.01 million. During the same quarter in the previous year, the firm earned $3.52 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.34 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.36 annualized dividend and a yield of 0.66%. Teleflex’s dividend payout ratio is presently 18.06%.

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.