abrdn plc Buys 8,124 Shares of Teleflex Incorporated (NYSE:TFX)

abrdn plc boosted its position in Teleflex Incorporated (NYSE:TFX) by 70.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,687 shares of the medical technology company’s stock after purchasing an additional 8,124 shares during the period. abrdn plc’s holdings in Teleflex were worth $4,909,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TFX. Allworth Financial LP lifted its stake in Teleflex by 332.3% in the 3rd quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 103 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in Teleflex in the 3rd quarter valued at about $27,000. Covestor Ltd lifted its stake in Teleflex by 305.6% in the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Teleflex by 418.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock valued at $35,000 after purchasing an additional 113 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Teleflex in the 3rd quarter valued at about $39,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,665,225.00. Following the completion of the transaction, the vice president now directly owns 10,050 shares in the company, valued at $2,261,250. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TFX has been the subject of several recent analyst reports. Truist Financial cut their target price on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada cut their price objective on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.50.

Teleflex Price Performance

NYSE TFX opened at $206.71 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.29 and a debt-to-equity ratio of 0.39. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $276.43. The company has a 50 day moving average of $221.23 and a 200-day moving average of $225.79. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.98 and a beta of 1.11.

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

Teleflex Dividend Announcement

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

About Teleflex

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.