abrdn plc Buys 4,322 Shares of Teleflex Incorporated (NYSE:TFX)

abrdn plc grew its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 41.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,832 shares of the medical technology company's stock after purchasing an additional 4,322 shares during the period. abrdn plc's holdings in Teleflex were worth $3,649,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cromwell Holdings LLC grew its position in Teleflex by 59.0% during the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company's stock worth $33,000 after buying an additional 49 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Teleflex during the 2nd quarter valued at about $42,000. GAMMA Investing LLC grew its holdings in shares of Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company's stock worth $42,000 after purchasing an additional 97 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Teleflex by 20,700.0% in the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company's stock worth $44,000 after purchasing an additional 207 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company's stock valued at $48,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 95.62% of the company's stock.

Teleflex Trading Down 1.8 %

Shares of NYSE TFX traded down $3.88 during midday trading on Monday, reaching $207.33. The company had a trading volume of 773,583 shares, compared to its average volume of 372,661. The firm's fifty day moving average price is $239.55 and its 200-day moving average price is $224.14. The company has a quick ratio of 1.44, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a one year low of $195.51 and a one year high of $257.85. The stock has a market cap of $9.77 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.18.

Teleflex (NYSE:TFX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.38 by $0.11. Teleflex had a return on equity of 14.19% and a net margin of 7.85%. The firm had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the prior year, the firm posted $3.64 earnings per share. The business's quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, November 15th. Teleflex's payout ratio is 27.04%.

Wall Street Analyst Weigh In

TFX has been the subject of a number of research reports. Needham & Company LLC reissued a "hold" rating on shares of Teleflex in a research note on Friday. Mizuho cut their target price on shares of Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday. Truist Financial reissued a "hold" rating and issued a $227.00 target price (down previously from $255.00) on shares of Teleflex in a research note on Monday. Royal Bank of Canada dropped their price target on Teleflex from $275.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Stephens increased their price objective on Teleflex from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.25.

Insider Activity

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

About Teleflex

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.