Teleflex Incorporated (NYSE:TFX) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its stake in shares of Teleflex Incorporated (NYSE:TFX) by 19.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,778 shares of the medical technology company’s stock after selling 1,936 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Teleflex were worth $1,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of 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 period. Janus Henderson Group PLC grew its holdings in shares of 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 period. Wellington Management Group LLP grew its holdings in shares of Teleflex by 2.1% during the 4th 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 during the period. Cooke & Bieler LP grew its holdings in shares of Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after purchasing an additional 172,335 shares during the period. Finally, Norges Bank purchased a new stake in shares of Teleflex during the 4th quarter worth about $118,665,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Up 0.0 %

TFX opened at $241.53 on Thursday. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85. The business has a 50-day moving average of $234.49 and a 200-day moving average of $220.23. 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 company has a market capitalization of $11.38 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, beating 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 business had revenue of $749.70 million for the quarter, compared to analyst estimates of $762.98 million. During the same quarter in the prior year, the firm posted $3.41 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts forecast 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 was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio is currently 21.83%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped 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. Stephens upped their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial upped their target price on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now directly owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.43% of the company’s stock.

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.