Teleflex Incorporated (NYSE:TFX) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its stake in Teleflex Incorporated (NYSE:TFX) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,210 shares of the medical technology company’s stock after selling 632 shares during the period. CANADA LIFE ASSURANCE Co owned 0.06% of Teleflex worth $6,377,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TFX. Norges Bank acquired a new position in shares of Teleflex in the 4th quarter valued at $118,665,000. Vanguard Group Inc. boosted 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 buying an additional 96,711 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Teleflex by 107.6% in the 4th quarter. First Trust Advisors LP now owns 110,417 shares of the medical technology company’s stock valued at $27,531,000 after buying an additional 57,232 shares in the last quarter. Wellington Management Group LLP raised its position in Teleflex by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after purchasing an additional 52,533 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Teleflex by 416.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 59,930 shares of the medical technology company’s stock valued at $14,943,000 after purchasing an additional 48,326 shares during the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Teleflex Stock Down 1.0 %

Shares of Teleflex stock opened at $220.30 on Friday. The company has a market cap of $10.38 billion, a P/E ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 2.51. Teleflex Incorporated has a one year low of $177.63 and a one year high of $258.89. The firm has a fifty day moving average of $212.42 and a two-hundred day moving average of $222.18.

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

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.62%. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Wall Street Analysts Forecast Growth

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

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.