Principal Financial Group Inc. Purchases 149 Shares of Teleflex Incorporated (NYSE:TFX)

Principal Financial Group Inc. increased its position in shares of Teleflex Incorporated (NYSE:TFX) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,323 shares of the medical technology company’s stock after purchasing an additional 149 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Teleflex worth $16,474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TFX. Janus Henderson Group PLC lifted its holdings in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after purchasing an additional 581,312 shares during the last quarter. Norges Bank acquired a new stake in Teleflex during the 4th quarter worth approximately $118,665,000. Ceredex Value Advisors LLC acquired a new stake in Teleflex during the 2nd quarter worth approximately $25,550,000. Vanguard Group Inc. lifted its holdings in Teleflex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after purchasing an additional 96,711 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in Teleflex by 6,428.1% during the 1st quarter. Vident Advisory LLC now owns 61,952 shares of the medical technology company’s stock worth $14,012,000 after purchasing an additional 61,003 shares during the last quarter. 95.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFX has been the subject of several research reports. Royal Bank of Canada lifted their price target on Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens raised their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Teleflex Trading Up 0.0 %

Shares of TFX opened at $244.96 on Thursday. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85. The business’s fifty day moving average is $228.21 and its 200-day moving average is $219.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 2.22 and a beta of 1.15.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.09. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same quarter last year, the company posted $3.41 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. Teleflex’s payout ratio is 21.83%.

Teleflex 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.