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

Creative Planning boosted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 7.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,671 shares of the medical technology company’s stock after acquiring an additional 412 shares during the period. Creative Planning’s holdings in Teleflex were worth $1,403,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Teleflex in the 2nd quarter valued at $42,000. GAMMA Investing LLC raised its position in shares of Teleflex by 131.1% in the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock valued at $42,000 after buying an additional 97 shares during the last quarter. Versant Capital Management Inc lifted 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 worth $44,000 after buying an additional 207 shares in the last quarter. Blue Trust Inc. boosted its position in Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 93 shares during the last quarter. Finally, Quarry LP purchased a new stake in Teleflex during the 2nd quarter valued at about $48,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TFX shares. Stephens lifted their price objective on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Truist Financial lifted their price target on Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada upped their price objective on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $268.86.

Insider Buying and Selling

In other news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.43% of the stock is owned by corporate insiders.

Teleflex Trading Down 0.5 %

NYSE TFX opened at $235.23 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44. The stock has a market capitalization of $11.08 billion, a P/E ratio of 42.23, a PEG ratio of 2.12 and a beta of 1.16. The firm’s 50-day moving average is $240.93 and its two-hundred day moving average is $224.08. Teleflex Incorporated has a 12 month low of $178.83 and a 12 month high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly 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. The company had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.41 earnings per share. On average, sell-side analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

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.