Atlantic Union Bankshares Corp Trims Stake in Teleflex Incorporated (NYSE:TFX)

Atlantic Union Bankshares Corp cut its stake in shares of Teleflex Incorporated (NYSE:TFX) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,220 shares of the medical technology company’s stock after selling 103 shares during the period. Atlantic Union Bankshares Corp’s holdings in Teleflex were worth $467,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC raised its stake in shares of Teleflex by 12.0% in the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock worth $1,223,424,000 after buying an additional 581,312 shares during the period. Norges Bank purchased a new stake in Teleflex in the 4th quarter worth approximately $118,665,000. Vanguard Group Inc. raised its stake in 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 acquiring an additional 96,711 shares during the period. Vident Advisory LLC lifted its holdings in Teleflex by 6,428.1% during the first quarter. Vident Advisory LLC now owns 61,952 shares of the medical technology company’s stock valued at $14,012,000 after purchasing an additional 61,003 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Teleflex by 107.6% in the fourth quarter. First Trust Advisors LP now owns 110,417 shares of the medical technology company’s stock worth $27,531,000 after purchasing an additional 57,232 shares during the period. Institutional investors own 95.62% of the company’s stock.

Analysts Set New Price Targets

TFX has been the topic of several recent analyst reports. Stephens raised their price objective on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial lifted their target price on Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and an average price target of $265.57.

Teleflex Trading Up 1.4 %

Shares of TFX stock opened at $242.41 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 38.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The stock’s 50-day moving average price is $221.51 and its 200-day moving average price is $220.03.

Teleflex (NYSE:TFX) last released its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.09. The business had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 EPS. Equities research analysts predict that Teleflex Incorporated will post 13.96 EPS for the current fiscal year.

Teleflex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.36 annualized dividend and a yield of 0.56%. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Insider Buying and Selling at Teleflex

In other 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 sale, the director now directly owns 5,496 shares in the company, valued at approximately $1,313,159.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is owned by company insiders.

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.