Franklin Resources Inc. Boosts Stake in Teleflex Incorporated (NYSE:TFX)

Franklin Resources Inc. boosted its holdings in Teleflex Incorporated (NYSE:TFX) by 0.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 330,860 shares of the medical technology company’s stock after acquiring an additional 52 shares during the quarter. Franklin Resources Inc. owned about 0.70% of Teleflex worth $82,497,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of 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 in the last quarter. Covestor Ltd lifted its position in shares of Teleflex by 305.6% during the 3rd quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Teleflex by 418.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after acquiring an additional 113 shares during the period. Finally, Janiczek Wealth Management LLC increased its stake in Teleflex by 227.1% in the 4th quarter. Janiczek Wealth Management LLC now owns 157 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Ratings Changes

TFX has been the topic of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. StockNews.com cut shares of Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Royal Bank of Canada lowered their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Finally, Truist Financial cut their price objective on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.75.

Teleflex Stock Down 3.1 %

Shares of NYSE TFX opened at $206.54 on Friday. The firm’s 50 day moving average price is $213.07 and its 200 day moving average price is $228.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. The firm has a market cap of $9.73 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $262.97.

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

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.34 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.36 annualized dividend and a dividend yield of 0.66%. Teleflex’s payout ratio is currently 21.83%.

Insider Activity at Teleflex

In related news, VP Cameron P. Hicks sold 7,401 shares of the company’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 owns 10,050 shares of the company’s stock, valued at $2,261,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.43% of the stock is owned by insiders.

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.