Massachusetts Financial Services Co. MA Sells 4,324 Shares of Teleflex Incorporated (NYSE:TFX)

Massachusetts Financial Services Co. MA lowered its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,695 shares of the medical technology company's stock after selling 4,324 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.90% of Teleflex worth $89,536,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in Teleflex by 12.0% during the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company's stock valued at $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. Norges Bank bought a new stake in Teleflex during the 4th quarter valued at $118,665,000. Cooke & Bieler LP increased its stake in Teleflex by 23.3% during the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company's stock valued at $191,989,000 after purchasing an additional 172,335 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in Teleflex during the 2nd quarter valued at $25,550,000. Finally, National Bank of Canada FI increased its stake in Teleflex by 1,008.2% during the 2nd quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company's stock valued at $24,388,000 after purchasing an additional 104,935 shares in the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Stock Performance

TFX traded up $4.13 during trading on Thursday, hitting $245.66. 299,580 shares of the company traded hands, compared to its average volume of 373,032. The firm has a market cap of $11.58 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 2.23 and a beta of 1.16. The stock's fifty day moving average is $234.91 and its 200 day moving average is $220.40. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. Teleflex Incorporated has a one year low of $177.63 and a one year high of $257.85.

Teleflex (NYSE:TFX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. The company 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%. The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.41 earnings per share. As a group, equities analysts predict that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.36 annualized dividend and a yield of 0.55%. Teleflex's payout ratio is currently 21.83%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler upgraded shares of Teleflex from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial lifted their price objective on shares of Teleflex from $240.00 to $247.00 and gave the stock a "hold" rating in a report on Monday, August 5th. Royal Bank of Canada upped their target price on shares of Teleflex from $235.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, Stephens upped their target price on shares of Teleflex from $275.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $265.57.

Insider Activity at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares in the company, valued at $1,313,159.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.43% of the stock is owned by company insiders.

Teleflex 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.