Clearbridge Investments LLC Reduces Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Clearbridge Investments LLC cut its holdings in Teleflex Incorporated (NYSE:TFX - Free Report) by 14.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,163 shares of the medical technology company's stock after selling 18,356 shares during the quarter. Clearbridge Investments LLC owned approximately 0.22% of Teleflex worth $22,119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFX. Riverview Trust Co bought a new position in Teleflex in the first quarter valued at about $31,000. Pineridge Advisors LLC acquired a new stake in Teleflex during the 4th quarter worth approximately $35,000. Canada Pension Plan Investment Board acquired a new stake in Teleflex during the 2nd quarter worth approximately $42,000. Versant Capital Management Inc grew its holdings in Teleflex by 20,700.0% during the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company's stock worth $44,000 after acquiring an additional 207 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Teleflex by 78.2% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company's stock valued at $48,000 after acquiring an additional 93 shares during the period. Institutional investors own 95.62% of the company's stock.

Analysts Set New Price Targets

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

Teleflex Stock Down 0.2 %

TFX traded down $0.36 during midday trading on Friday, hitting $239.18. The company had a trading volume of 210,668 shares, compared to its average volume of 302,999. The stock's 50 day moving average price is $239.51 and its 200 day moving average price is $222.05. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $257.85. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 2.21 and a beta of 1.16. 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 (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, topping analysts' consensus estimates of $3.33 by $0.09. The business had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $3.41 EPS. On average, research analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 annualized dividend and a yield of 0.57%. Teleflex's payout ratio is 21.83%.

Insider Buying and Selling at Teleflex

In other news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares of the company's stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.43% of the company's stock.

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.