Argent Trust Co Purchases 102 Shares of Teleflex Incorporated (NYSE:TFX)

Argent Trust Co boosted its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the medical technology company’s stock after acquiring an additional 102 shares during the period. Argent Trust Co’s holdings in Teleflex were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Teleflex during the first quarter valued at approximately $2,467,000. Hsbc Holdings PLC boosted its position in Teleflex by 13.3% during the 4th quarter. Hsbc Holdings PLC now owns 83,474 shares of the medical technology company’s stock valued at $20,795,000 after acquiring an additional 9,807 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Teleflex by 34.1% in the 1st quarter. ProShare Advisors LLC now owns 12,200 shares of the medical technology company’s stock valued at $2,759,000 after acquiring an additional 3,105 shares during the period. Wellington Management Group LLP raised its position in shares of Teleflex by 2.1% in 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 acquiring an additional 52,533 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Teleflex by 214.7% during the 1st quarter. Tidal Investments LLC now owns 6,644 shares of the medical technology company’s stock worth $1,503,000 after purchasing an additional 4,533 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction on Friday, August 16th. The shares were 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 directly owns 5,496 shares in the company, valued at $1,313,159.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TFX. Stephens raised their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Truist Financial increased their price objective on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

Teleflex Trading Down 1.3 %

NYSE:TFX opened at $242.50 on Friday. The company has a market capitalization of $11.42 billion, a P/E ratio of 38.92, a PEG ratio of 2.23 and a beta of 1.16. 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 fifty day simple moving average of $235.35 and a 200-day simple moving average of $220.53. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85.

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

Teleflex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.34 per share. 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 payout ratio is 21.83%.

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.