Creative Planning Decreases Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Creative Planning lowered its holdings in Teleflex Incorporated (NYSE:TFX) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,259 shares of the medical technology company’s stock after selling 353 shares during the period. Creative Planning’s holdings in Teleflex were worth $1,106,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lighthouse Investment Partners LLC bought a new position in Teleflex during the second quarter valued at about $5,048,000. Mackenzie Financial Corp boosted its stake in Teleflex by 61.2% in the second quarter. Mackenzie Financial Corp now owns 20,934 shares of the medical technology company’s stock valued at $4,403,000 after acquiring an additional 7,947 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Teleflex during the 2nd quarter valued at approximately $700,000. Deerfield Management Company L.P. Series C bought a new position in shares of Teleflex during the 2nd quarter valued at approximately $1,153,000. Finally, AQR Capital Management LLC increased its stake in shares of Teleflex by 48.0% during the 2nd quarter. AQR Capital Management LLC now owns 59,707 shares of the medical technology company’s stock worth $12,356,000 after purchasing an additional 19,371 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Insider Buying and Selling at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TFX. Royal Bank of Canada increased their price objective on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial increased their price target 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 boosted their price objective for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Stephens upped their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.71.

Teleflex Trading Down 0.2 %

Shares of Teleflex stock opened at $234.41 on Thursday. The company’s 50-day moving average price is $239.96 and its 200-day moving average price is $222.22. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.17 and a beta of 1.16.

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

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a $0.34 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.58%. Teleflex’s dividend payout ratio is currently 21.83%.

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.