Parkside Financial Bank & Trust Sells 94 Shares of Teleflex Incorporated (NYSE:TFX)

Parkside Financial Bank & Trust cut its holdings in Teleflex Incorporated (NYSE:TFX) by 46.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108 shares of the medical technology company’s stock after selling 94 shares during the period. Parkside Financial Bank & Trust’s holdings in Teleflex were worth $27,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Rafferty Asset Management LLC grew its position in 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 purchasing an additional 314 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Teleflex by 243.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,722 shares of the medical technology company’s stock valued at $5,666,000 after purchasing an additional 16,110 shares in the last quarter. Royal London Asset Management Ltd. lifted its position 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 purchasing an additional 737 shares during the period. Raymond James & Associates boosted its stake in Teleflex by 10.5% during the fourth quarter. Raymond James & Associates now owns 126,227 shares of the medical technology company’s stock worth $31,473,000 after buying an additional 11,943 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Teleflex by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 2,964 shares of the medical technology company’s stock valued at $738,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 95.62% of the company’s stock.

Insider Buying and Selling

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 10,050 shares in the company, valued at approximately $2,261,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFX. Truist Financial decreased their target price on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Royal Bank of Canada decreased their price target on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. 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. Finally, StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Teleflex presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Teleflex Stock Performance

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

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, 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 business had revenue of $773.90 million during the quarter, compared to analyst estimates of $769.01 million. During the same quarter last year, the business posted $3.52 earnings per share. Teleflex’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Teleflex Incorporated will post 13.73 earnings per share for the current fiscal year.

Teleflex Announces Dividend

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

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.