Teleflex Incorporated (NYSE:TFX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 41.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,301 shares of the medical technology company's stock after buying an additional 7,132 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Teleflex worth $6,010,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Teleflex by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company's stock valued at $1,255,408,000 after purchasing an additional 96,711 shares in the last quarter. 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 valued at $1,223,424,000 after purchasing an additional 581,312 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Teleflex by 23.3% in 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. TD Asset Management Inc raised its holdings in shares of Teleflex by 12.0% in the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company's stock valued at $95,928,000 after purchasing an additional 48,832 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Teleflex by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company's stock valued at $89,526,000 after purchasing an additional 26,325 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Teleflex Stock Performance

Teleflex stock traded up $3.00 during midday trading on Monday, hitting $236.63. 245,790 shares of the company's stock were exchanged, compared to its average volume of 362,394. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 42.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16. The firm's 50 day simple moving average is $241.03 and its 200 day simple moving average is $223.72.

Teleflex (NYSE:TFX - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $762.98 million. During the same period last year, the firm posted $3.41 EPS. Teleflex's revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts predict that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex's payout ratio is 24.42%.

Insider Activity

In other news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the sale, the director now owns 5,496 shares of the company's stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TFX shares. Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Piper Sandler raised shares of Teleflex from a "neutral" rating to an "overweight" rating and increased their target price for the company from $205.00 to $245.00 in a research report on Monday, July 1st. Truist Financial increased their target price on shares of Teleflex from $247.00 to $255.00 and gave the company a "hold" rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada increased their target price on shares of Teleflex from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Teleflex presently has an average rating of "Moderate Buy" and an average price target of $268.86.

Teleflex Company 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.