Allspring Global Investments Holdings LLC Buys 16,110 Shares of Teleflex Incorporated (NYSE:TFX)

Allspring Global Investments Holdings LLC lifted its position in Teleflex Incorporated (NYSE:TFX) by 243.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,722 shares of the medical technology company’s stock after purchasing an additional 16,110 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Teleflex were worth $5,666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rafferty Asset Management LLC lifted its holdings in shares of Teleflex by 6.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 4,910 shares of the medical technology company’s stock worth $964,000 after buying an additional 314 shares during the period. Royal London Asset Management Ltd. lifted its stake in Teleflex by 4.3% in the third quarter. Royal London Asset Management Ltd. now owns 17,753 shares of the medical technology company’s stock worth $3,487,000 after acquiring an additional 737 shares during the period. Nordea Investment Management AB grew its holdings in Teleflex by 8.8% during the 4th quarter. Nordea Investment Management AB now owns 2,964 shares of the medical technology company’s stock worth $738,000 after acquiring an additional 239 shares in the last quarter. Raymond James & Associates increased its position in Teleflex by 10.5% during the 4th quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock valued at $31,473,000 after purchasing an additional 11,943 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Teleflex in the 3rd quarter valued at about $27,000. Institutional investors own 95.62% of the company’s stock.

Insider Transactions at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $225.00, for a total value of $1,665,225.00. Following the transaction, the vice president now directly owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.43% of the company’s stock.

Teleflex Stock Down 0.4 %

Teleflex stock opened at $207.38 on Friday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $276.43. The business has a fifty day moving average price of $226.40 and a 200-day moving average price of $225.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.01 and a beta of 1.11.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, February 22nd. The medical technology company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.12. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The business had revenue of $773.90 million during the quarter, compared to the consensus estimate of $769.01 million. During the same quarter last year, the company earned $3.52 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Teleflex Incorporated will post 13.73 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.34 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. Teleflex’s dividend payout ratio is currently 18.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Royal Bank of Canada lowered their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Truist Financial cut their price target on Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, StockNews.com cut Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.