Massachusetts Financial Services Co. MA Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,695 shares of the medical technology company’s stock after selling 4,324 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.90% of Teleflex worth $89,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Teleflex during the 1st quarter worth about $31,000. Pineridge Advisors LLC acquired a new stake in Teleflex during the 4th quarter worth about $35,000. Versant Capital Management Inc lifted its position in Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 207 shares during the period. Blue Trust Inc. lifted its position in Teleflex by 78.2% during the 2nd 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 period. Finally, Quadrant Capital Group LLC lifted its position in Teleflex by 67.2% during the 4th quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock worth $57,000 after acquiring an additional 92 shares during the period. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on TFX shares. Truist Financial lifted their price target on Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. 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 research report on Friday, August 2nd. Piper Sandler raised 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 report on Monday, July 1st. Finally, Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Teleflex has an average rating of “Moderate Buy” and a consensus target price of $265.57.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of the company’s 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 completion of the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.43% of the company’s stock.

Teleflex Price Performance

NYSE:TFX opened at $241.53 on Thursday. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85. The stock has a 50 day moving average of $234.49 and a two-hundred day moving average of $220.23. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.38 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16.

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

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.56%. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

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.