Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Teleflex Incorporated (NYSE:TFX)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of Teleflex Incorporated (NYSE:TFXFree Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,332 shares of the medical technology company’s stock after selling 4,474 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of Teleflex worth $24,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Teleflex by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,454,016 shares of the medical technology company’s stock worth $1,359,904,000 after purchasing an additional 57,132 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Teleflex by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock worth $622,494,000 after purchasing an additional 52,533 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of Teleflex by 5.7% in the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock worth $183,256,000 after purchasing an additional 39,308 shares in the last quarter. Norges Bank purchased a new stake in shares of Teleflex in the fourth quarter worth $118,665,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Teleflex by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock worth $107,949,000 after purchasing an additional 35,847 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFX. Truist Financial reduced their price objective on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Teleflex has an average rating of “Moderate Buy” and a consensus target price of $260.14.

Check Out Our Latest Stock Report on Teleflex

Teleflex Price Performance

TFX stock opened at $211.73 on Tuesday. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $262.97. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $208.18 and a two-hundred day simple moving average of $224.58. The firm has a market capitalization of $9.97 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13.

Teleflex (NYSE:TFXGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The business had revenue of $737.80 million during the quarter, compared to analyst estimates of $726.85 million. During the same quarter last year, the business earned $3.09 earnings per share. Teleflex’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Teleflex Incorporated will post 13.75 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Teleflex Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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