Teleflex Incorporated (NYSE:TFX) Stock Position Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in Teleflex Incorporated (NYSE:TFX) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,089 shares of the medical technology company’s stock after acquiring an additional 1,018 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Teleflex were worth $4,510,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TFX. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Teleflex by 31.0% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,107 shares of the medical technology company’s stock worth $276,000 after purchasing an additional 262 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Teleflex by 14.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 5,926 shares of the medical technology company’s stock worth $1,478,000 after purchasing an additional 731 shares during the period. Norges Bank bought a new position in shares of Teleflex in the 4th quarter worth about $118,665,000. Kentucky Retirement Systems boosted its holdings in shares of Teleflex by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 3,760 shares of the medical technology company’s stock valued at $938,000 after buying an additional 42 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Teleflex by 28.9% in the 4th quarter. Panagora Asset Management Inc. now owns 4,175 shares of the medical technology company’s stock valued at $1,041,000 after buying an additional 935 shares during the period. 95.62% of the stock is currently owned by institutional investors.

Teleflex Price Performance

Shares of TFX opened at $206.35 on Friday. Teleflex Incorporated has a one year low of $177.63 and a one year high of $262.97. The stock’s fifty day moving average is $212.89 and its 200-day moving average is $228.00. 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 capitalization of $9.72 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13.

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

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is 21.83%.

Insider Buying and Selling at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of the business’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 sale, the vice president now owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TFX has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. JMP Securities restated 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 cut their target price on Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $261.75.

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.