Franklin Resources Inc. Has $2.30 Million Stock Position in Teleflex Incorporated (NYSE:TFX)

Franklin Resources Inc. increased its position in shares of Teleflex Incorporated (NYSE:TFX - Free Report) by 64.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,683 shares of the medical technology company's stock after purchasing an additional 3,790 shares during the period. Franklin Resources Inc.'s holdings in Teleflex were worth $2,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC lifted its holdings in shares of Teleflex by 59.0% in the third quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company's stock valued at $33,000 after buying an additional 49 shares during the period. Avior Wealth Management LLC raised its position in Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company's stock worth $38,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Teleflex in the 3rd quarter valued at about $40,000. True Wealth Design LLC boosted its position in shares of Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company's stock valued at $41,000 after purchasing an additional 166 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Teleflex in the 2nd quarter worth approximately $42,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFX has been the subject of several recent research reports. Truist Financial cut their target price on shares of Teleflex from $227.00 to $200.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Mizuho cut their price objective on Teleflex from $275.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Needham & Company LLC restated a "hold" rating on shares of Teleflex in a report on Monday, December 16th. Royal Bank of Canada cut their target price on Teleflex from $275.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com upgraded Teleflex from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $252.50.

Teleflex Stock Down 0.3 %

Shares of TFX traded down $0.63 during mid-day trading on Friday, reaching $179.51. The company's stock had a trading volume of 317,457 shares, compared to its average volume of 388,586. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The business has a fifty day moving average of $196.65 and a 200 day moving average of $218.19. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 1 year low of $171.69 and a 1 year high of $256.85.

Teleflex (NYSE:TFX - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $768.68 million. During the same period in the prior year, the business earned $3.64 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.36 annualized dividend and a yield of 0.76%. Teleflex's dividend payout ratio is presently 27.04%.

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.