Marathon Asset Management Ltd Reduces Stock Position in Teleflex Incorporated (NYSE:TFX)

Marathon Asset Management Ltd lessened its stake in Teleflex Incorporated (NYSE:TFX - Free Report) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,439 shares of the medical technology company's stock after selling 9,283 shares during the quarter. Marathon Asset Management Ltd owned approximately 0.21% of Teleflex worth $24,098,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TFX. Janus Henderson Group PLC raised its holdings in shares of Teleflex by 12.0% in the 1st quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company's stock worth $1,223,424,000 after purchasing an additional 581,312 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Teleflex by 564.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 310,484 shares of the medical technology company's stock worth $65,304,000 after purchasing an additional 263,743 shares during the period. Cooke & Bieler LP raised its holdings 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 acquiring an additional 172,335 shares during the period. 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 raised its holdings 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 acquiring an additional 104,935 shares during the period. Institutional investors own 95.62% of the company's stock.

Teleflex Price Performance

Shares of Teleflex stock traded up $5.80 during trading on Friday, hitting $239.94. The stock had a trading volume of 427,532 shares, compared to its average volume of 365,889. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 42.22, a P/E/G ratio of 2.15 and a beta of 1.16. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $257.85. The business's 50-day moving average is $240.63 and its 200 day moving average is $222.85. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36.

Teleflex (NYSE:TFX - Get Free Report) last announced its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company had revenue of $749.70 million during the quarter, compared to analyst estimates of $762.98 million. During the same period in the previous year, the business earned $3.41 earnings per share. The firm's quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 0.57%. Teleflex's payout ratio is 24.42%.

Insider Buying and Selling at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company's 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 sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.43% of the company's stock.

Analyst Upgrades and Downgrades

TFX has been the topic of a number of analyst reports. Stephens boosted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Teleflex from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Piper Sandler raised shares of Teleflex from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $205.00 to $245.00 in a report on Monday, July 1st. Finally, Truist Financial boosted their target price on shares of Teleflex from $247.00 to $255.00 and gave the company a "hold" rating in a report on Monday. Three 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 has an average rating of "Moderate Buy" and a consensus target price of $268.86.

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.