NewEdge Wealth LLC Buys 282 Shares of Teleflex Incorporated (NYSE:TFX)

NewEdge Wealth LLC increased its stake in shares of Teleflex Incorporated (NYSE:TFX) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,278 shares of the medical technology company’s stock after acquiring an additional 282 shares during the period. NewEdge Wealth LLC’s holdings in Teleflex were worth $1,067,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TFX. Allworth Financial LP raised its stake in Teleflex by 332.3% in the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock valued at $26,000 after buying an additional 103 shares during the period. Venturi Wealth Management LLC bought a new stake in Teleflex in the third quarter valued at approximately $27,000. Covestor Ltd raised its stake in Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock valued at $29,000 after buying an additional 110 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Teleflex by 418.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock valued at $35,000 after buying an additional 113 shares during the period. Finally, ING Groep NV bought a new stake in Teleflex in the third quarter valued at approximately $39,000. Institutional investors own 95.62% of the company’s stock.

Insider Buying and Selling at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada lowered 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. Truist Financial lowered their target price on Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Raymond James increased their target price on Teleflex from $227.00 to $271.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. Finally, JMP Securities reiterated a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $265.56.

Teleflex Trading Down 1.8 %

Shares of NYSE:TFX opened at $210.66 on Tuesday. The company has a market capitalization of $9.92 billion, a P/E ratio of 27.98, a P/E/G ratio of 2.05 and a beta of 1.11. Teleflex Incorporated has a 1 year low of $177.63 and a 1 year high of $276.43. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29. The business’s 50 day simple moving average is $228.97 and its 200 day simple moving average is $225.23.

Teleflex (NYSE:TFX) last issued its 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. The firm had revenue of $773.90 million for the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a return on equity of 14.98% and a net margin of 11.98%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.52 EPS. On average, research analysts anticipate that Teleflex Incorporated will post 13.73 EPS for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio is presently 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.