PNC Financial Services Group Inc. lowered its position in Teleflex Incorporated (NYSE:TFX – Get Rating) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,933 shares of the medical technology company’s stock after selling 1,144 shares during the period. PNC Financial Services Group Inc.’s holdings in Teleflex were worth $5,475,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. General Partner Inc. purchased a new stake in shares of Teleflex during the 4th quarter worth $28,000. Lazard Asset Management LLC increased its stake in Teleflex by 9,000.0% in the 3rd quarter. Lazard Asset Management LLC now owns 182 shares of the medical technology company’s stock valued at $36,000 after purchasing an additional 180 shares in the last quarter. Ellevest Inc. raised its holdings in Teleflex by 39.6% during the fourth quarter. Ellevest Inc. now owns 254 shares of the medical technology company’s stock worth $63,000 after purchasing an additional 72 shares during the last quarter. Romano Brothers AND Company purchased a new stake in Teleflex during the fourth quarter worth $69,000. Finally, Signaturefd LLC grew its holdings in Teleflex by 79.0% in the fourth quarter. Signaturefd LLC now owns 417 shares of the medical technology company’s stock valued at $104,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.
Insider Buying and Selling at Teleflex
In related news, Director Stuart A. Randle sold 3,021 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $245.71, for a total value of $742,289.91. Following the completion of the transaction, the director now owns 4,847 shares in the company, valued at approximately $1,190,956.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.41% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Teleflex Stock Performance
Shares of NYSE:TFX opened at $233.17 on Friday. The company has a market cap of $10.94 billion, a P/E ratio of 30.40, a PEG ratio of 2.48 and a beta of 1.00. The business’s 50-day simple moving average is $254.65 and its 200 day simple moving average is $244.02. Teleflex Incorporated has a one year low of $182.65 and a one year high of $290.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.41 and a current ratio of 2.48.
Teleflex (NYSE:TFX – Get Rating) last announced its earnings results on Thursday, May 4th. The medical technology company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.12. Teleflex had a return on equity of 15.80% and a net margin of 12.68%. The business had revenue of $710.90 million for the quarter, compared to analyst estimates of $687.11 million. During the same period in the previous year, the company earned $2.88 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Teleflex Incorporated will post 13.29 earnings per share for the current fiscal year.
Teleflex Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, May 12th. Teleflex’s dividend payout ratio is presently 17.73%.
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.
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