Teleflex Incorporated (NYSE:TFX) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its holdings in Teleflex Incorporated (NYSE:TFX) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,210 shares of the medical technology company’s stock after selling 632 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Teleflex were worth $6,377,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Teleflex by 1.8% in the first 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. Wellington Management Group LLP lifted its stake in Teleflex by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after buying an additional 52,533 shares during the last quarter. Cooke & Bieler LP lifted its stake in Teleflex by 5.7% in the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock valued at $183,256,000 after buying an additional 39,308 shares during the last quarter. Norges Bank bought a new stake in Teleflex in the fourth quarter valued at $118,665,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Teleflex by 9.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock valued at $107,949,000 after buying an additional 35,847 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of NYSE TFX opened at $220.30 on Friday. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $258.89. The firm’s 50-day simple moving average is $212.42 and its 200 day simple moving average is $222.18. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $10.38 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.13.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.14. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The business had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. During the same period in the previous year, the business earned $3.09 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Teleflex Incorporated will post 13.75 EPS for the current year.

Teleflex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Tuesday, May 14th. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TFX shares. Truist Financial raised their target price on Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and raised their target price for the company from $205.00 to $245.00 in a research note 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.14.

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.