HM Payson & Co. Reduces Holdings in Teleflex Incorporated (NYSE:TFX)

HM Payson & Co. decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 7.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,098 shares of the medical technology company’s stock after selling 531 shares during the period. HM Payson & Co.’s holdings in Teleflex were worth $1,605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Westwood Holdings Group Inc. increased its position in shares of Teleflex by 25.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 57,225 shares of the medical technology company’s stock worth $12,943,000 after purchasing an additional 11,569 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Teleflex by 2.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,290 shares of the medical technology company’s stock worth $1,606,000 after purchasing an additional 180 shares during the last quarter. Boston Partners increased its position in shares of Teleflex by 105.9% in the 1st quarter. Boston Partners now owns 2,831 shares of the medical technology company’s stock worth $640,000 after purchasing an additional 1,456 shares during the last quarter. Swedbank AB bought a new stake in shares of Teleflex in the 1st quarter worth about $679,000. Finally, Wahed Invest LLC increased its position in shares of Teleflex by 12.0% in the 1st quarter. Wahed Invest LLC now owns 894 shares of the medical technology company’s stock worth $202,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TFX. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Truist Financial lifted their price target on shares of Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a report on Tuesday, July 16th. Stephens lifted their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $264.57.

Teleflex Stock Performance

Teleflex stock traded up $1.18 during midday trading on Friday, reaching $237.13. 745,171 shares of the stock traded hands, compared to its average volume of 392,632. The company has a current ratio of 2.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $214.14 and a two-hundred day moving average price of $221.29. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 2.26 and a beta of 1.13. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.09. The firm had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. Teleflex’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $3.41 EPS. On average, equities research analysts forecast that Teleflex Incorporated will post 13.88 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.57%. Teleflex’s dividend payout ratio (DPR) is 21.83%.

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.