Principal Financial Group Inc. Sells 3,327 Shares of Teleflex Incorporated (NYSE:TFX)

Principal Financial Group Inc. lowered its position in Teleflex Incorporated (NYSE:TFX – Get Rating) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 85,650 shares of the medical technology company’s stock after selling 3,327 shares during the quarter. Principal Financial Group Inc.’s holdings in Teleflex were worth $21,381,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Teleflex by 2.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,231 shares of the medical technology company’s stock worth $792,000 after buying an additional 54 shares during the last quarter. HighTower Advisors LLC boosted its stake in Teleflex by 2.2% during the 1st quarter. HighTower Advisors LLC now owns 4,678 shares of the medical technology company’s stock valued at $1,655,000 after purchasing an additional 99 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Teleflex during the 1st quarter valued at $455,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Teleflex by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,268 shares of the medical technology company’s stock valued at $2,224,000 after purchasing an additional 388 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Teleflex by 2.7% during the 1st quarter. Yousif Capital Management LLC now owns 7,158 shares of the medical technology company’s stock valued at $2,540,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 93.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $330.00 target price on shares of Teleflex in a report on Thursday, March 30th. Raymond James raised their target price on Teleflex from $231.00 to $259.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Needham & Company LLC reissued a “buy” rating and set a $291.00 price target on shares of Teleflex in a report on Friday, February 24th. Mizuho raised their price target on Teleflex from $220.00 to $250.00 in a report on Tuesday, April 18th. Finally, Truist Financial raised their price target on Teleflex from $250.00 to $264.00 and gave the company a “hold” rating in a report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $271.75.

Teleflex Stock Performance

Teleflex stock opened at $243.78 on Monday. The company has a 50 day moving average price of $253.83 and a 200-day moving average price of $243.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.41 and a current ratio of 2.48. Teleflex Incorporated has a fifty-two week low of $182.65 and a fifty-two week high of $293.07. The company has a market capitalization of $11.43 billion, a PE ratio of 31.78, a P/E/G ratio of 2.59 and a beta of 1.00.

Teleflex (NYSE:TFX – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The medical technology company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.12. The company had revenue of $710.90 million during the quarter, compared to the consensus estimate of $687.11 million. Teleflex had a net margin of 12.68% and a return on equity of 15.80%. Teleflex’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.88 earnings per share. As a group, equities analysts forecast that Teleflex Incorporated will post 13.29 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, May 12th. Teleflex’s payout ratio is presently 17.73%.

Insider Transactions at Teleflex

In other news, Director Stuart A. Randle sold 3,021 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $245.71, for a total transaction of $742,289.91. Following the transaction, the director now directly owns 4,847 shares of the company’s stock, valued at $1,190,956.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.41% of the company’s stock.

Teleflex Profile

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Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.