Teleflex Incorporated (NYSE:TFX) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI cut its position in shares of Teleflex Incorporated (NYSE:TFX) by 40.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,190 shares of the medical technology company’s stock after selling 799 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Teleflex were worth $250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFX. Riverview Trust Co acquired a new stake in Teleflex during the first quarter worth about $31,000. Pineridge Advisors LLC acquired a new stake in shares of Teleflex in the fourth quarter valued at about $35,000. Versant Capital Management Inc grew its stake in shares of Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after buying an additional 207 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after buying an additional 93 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Teleflex by 67.2% in the fourth quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock valued at $57,000 after buying an additional 92 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Trading Up 1.7 %

NYSE:TFX opened at $245.66 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $234.91 and its two-hundred day moving average is $220.40. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $257.85. The company has a market cap of $11.58 billion, a PE ratio of 39.43, a P/E/G ratio of 2.23 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $762.98 million. During the same quarter last year, the business posted $3.41 EPS. Teleflex’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts predict that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio is presently 21.83%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred 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 transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.43% of the stock is currently owned by company insiders.

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.