Teleflex Incorporated (NYSE:TFX) Holdings Decreased by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of Teleflex Incorporated (NYSE:TFX – Get Rating) by 12.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 370,814 shares of the medical technology company’s stock after selling 51,921 shares during the quarter. Franklin Resources Inc.’s holdings in Teleflex were worth $92,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TFX. Patton Fund Management Inc. acquired a new stake in shares of Teleflex during the fourth quarter worth approximately $225,000. Advisor Group Holdings Inc. increased its holdings in Teleflex by 1.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 8,879 shares of the medical technology company’s stock worth $2,216,000 after buying an additional 167 shares during the last quarter. SVB Wealth LLC raised its position in Teleflex by 5.4% during the fourth quarter. SVB Wealth LLC now owns 1,208 shares of the medical technology company’s stock valued at $302,000 after acquiring an additional 62 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Teleflex by 4.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 26,611 shares of the medical technology company’s stock valued at $6,643,000 after acquiring an additional 1,125 shares during the last quarter. Finally, abrdn plc grew its position in Teleflex by 7.2% in the fourth quarter. abrdn plc now owns 12,969 shares of the medical technology company’s stock worth $3,237,000 after acquiring an additional 872 shares in the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Teleflex Stock Performance

Teleflex stock opened at $233.17 on Friday. Teleflex Incorporated has a 52-week low of $182.65 and a 52-week high of $290.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.48 and a quick ratio of 1.41. The stock has a fifty day moving average price of $254.65 and a two-hundred day moving average price of $244.02. The firm has a market capitalization of $10.94 billion, a P/E ratio of 30.40, a P/E/G ratio of 2.48 and a beta of 1.00.

Teleflex (NYSE:TFX – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The medical technology company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.12. The firm had revenue of $710.90 million for the quarter, compared to analysts’ expectations of $687.11 million. Teleflex had a net margin of 12.68% and a return on equity of 15.80%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, analysts anticipate that Teleflex Incorporated will post 13.29 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, May 12th. Teleflex’s dividend payout ratio (DPR) is presently 17.73%.

Analyst Ratings Changes

TFX has been the subject of several analyst reports. Mizuho lifted their price objective on shares of Teleflex from $220.00 to $250.00 in a research note on Tuesday, April 18th. JMP Securities restated a “market outperform” rating and issued a $330.00 target price on shares of Teleflex in a report on Thursday, March 30th. Needham & Company LLC reiterated a “buy” rating and set a $291.00 price target on shares of Teleflex in a report on Friday, February 24th. Truist Financial lifted their target price on shares of Teleflex from $250.00 to $264.00 and gave the stock a “hold” rating in a report on Monday, April 17th. Finally, Raymond James boosted their price objective on Teleflex from $231.00 to $259.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $271.75.

Insider Transactions at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 3,021 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $245.71, for a total value of $742,289.91. Following the transaction, the director now directly owns 4,847 shares of the company’s stock, valued at $1,190,956.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.41% of the stock is owned by corporate insiders.

About Teleflex

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Teleflex, Inc provides medical technology products which enables healthcare providers to improve patient outcomes and enhance patient and provider safety. The firm designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for common diagnostic and therapeutic procedures in critical care and surgical applications.