Truist Financial Corp Sells 798 Shares of Teleflex Incorporated (NYSE:TFX)

Truist Financial Corp lowered its stake in shares of Teleflex Incorporated (NYSE:TFX) by 9.6% during the fourth quarter, Holdings Channel reports. The fund owned 7,540 shares of the medical technology company’s stock after selling 798 shares during the period. Truist Financial Corp’s holdings in Teleflex were worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TFX. Allworth Financial LP grew its holdings in Teleflex by 332.3% during the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 103 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Teleflex during the 3rd quarter worth about $27,000. Covestor Ltd grew its holdings in Teleflex by 305.6% during the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings 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 acquiring an additional 113 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Up 2.1 %

Teleflex stock opened at $204.63 on Friday. The company’s 50 day simple moving average is $215.39 and its 200 day simple moving average is $226.44. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $262.97. The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 1.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.14. The business had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. Teleflex’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.09 EPS. As a group, sell-side analysts anticipate that Teleflex Incorporated will post 13.72 EPS for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.36 annualized dividend and a yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Insiders Place Their Bets

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the sale, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 target price on shares of Teleflex 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. 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 research note on Friday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Truist Financial reduced their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $261.75.

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.