abrdn plc Boosts Stake in Teleflex Incorporated (NYSE:TFX)

abrdn plc raised its position in Teleflex Incorporated (NYSE:TFX) by 70.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,687 shares of the medical technology company’s stock after purchasing an additional 8,124 shares during the period. abrdn plc’s holdings in Teleflex were worth $4,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFX. Exchange Traded Concepts LLC increased its stake in Teleflex by 157.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 273 shares of the medical technology company’s stock valued at $54,000 after buying an additional 167 shares during the last quarter. Czech National Bank increased its stake in shares of Teleflex by 47.7% during the 3rd quarter. Czech National Bank now owns 8,213 shares of the medical technology company’s stock worth $1,613,000 after purchasing an additional 2,653 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Teleflex by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,230 shares of the medical technology company’s stock worth $3,777,000 after purchasing an additional 60 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Teleflex by 1.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,208 shares of the medical technology company’s stock worth $2,398,000 after purchasing an additional 200 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of Teleflex by 5.1% during the 3rd quarter. Xponance Inc. now owns 6,780 shares of the medical technology company’s stock worth $1,332,000 after purchasing an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

Teleflex stock opened at $206.71 on Friday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $276.43. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.98 and a beta of 1.11. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $221.23 and a 200 day simple moving average of $225.79.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $769.01 million. During the same period in the previous year, the business earned $3.52 EPS. Teleflex’s revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Teleflex Incorporated will post 13.73 earnings per share for the current year.

Teleflex Dividend Announcement

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

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the transaction, the vice president now directly owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TFX shares. Royal Bank of Canada decreased their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. JMP Securities restated a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a research note on Friday, February 23rd. Finally, Truist Financial decreased their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $267.50.

About Teleflex

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.