Bahl & Gaynor Inc. Decreases Holdings in Teleflex Incorporated (NYSE:TFX)

Bahl & Gaynor Inc. decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,966 shares of the medical technology company’s stock after selling 366 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Teleflex were worth $4,742,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TFX. Vanguard Group Inc. raised its position in shares of Teleflex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after purchasing an additional 96,711 shares during the last quarter. Wellington Management Group LLP boosted its position in Teleflex by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock worth $622,494,000 after purchasing an additional 52,533 shares during the period. Cooke & Bieler LP boosted its position in Teleflex by 5.7% in the 4th quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock valued at $183,256,000 after buying an additional 39,308 shares during the last quarter. Norges Bank purchased a new position in Teleflex in the 4th quarter valued at about $118,665,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Teleflex by 9.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock valued at $107,949,000 after buying an additional 35,847 shares during the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TFX shares. Truist Financial upped their target price on shares of Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.14.

Teleflex Price Performance

Shares of Teleflex stock traded up $1.02 on Tuesday, hitting $223.61. The company had a trading volume of 80,411 shares, compared to its average volume of 367,371. The business has a 50-day simple moving average of $211.98 and a 200-day simple moving average of $222.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41. The company has a market cap of $10.53 billion, a PE ratio of 35.97, a PEG ratio of 2.15 and a beta of 1.13. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $262.97.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.14. The business had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a net margin of 9.82% and a return on equity of 14.78%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.09 earnings per share. Research analysts expect that Teleflex Incorporated will post 13.75 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, May 14th. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

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.