IVC Wealth Advisors LLC Decreases Position in Teleflex Incorporated (NYSE:TFX)

IVC Wealth Advisors LLC decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,807 shares of the medical technology company’s stock after selling 150 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Teleflex were worth $694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TFX. Vanguard Group Inc. boosted 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 valued at $1,255,408,000 after purchasing an additional 96,711 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Teleflex by 12.0% in the 1st 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 in the last quarter. Cooke & Bieler LP raised its position in Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock worth $191,989,000 after buying an additional 172,335 shares during the last quarter. TD Asset Management Inc lifted its stake in Teleflex by 12.0% during the 2nd quarter. TD Asset Management Inc now owns 456,081 shares of the medical technology company’s stock valued at $95,928,000 after acquiring an additional 48,832 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Teleflex by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 425,647 shares of the medical technology company’s stock valued at $89,526,000 after acquiring an additional 26,325 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Stephens boosted their target price on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial raised their price target on Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research note on Monday, October 14th. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $205.00 to $245.00 in a research report on Monday, July 1st. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $268.86.

Teleflex Price Performance

Shares of Teleflex stock opened at $233.63 on Monday. The stock has a market cap of $11.01 billion, a P/E ratio of 41.94, a P/E/G ratio of 2.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The stock’s fifty day moving average is $241.03 and its 200 day moving average is $223.72. Teleflex Incorporated has a one year low of $177.63 and a one year high of $257.85.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping the consensus estimate of $3.33 by $0.09. The firm 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 business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. Sell-side analysts anticipate that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.58%. Teleflex’s dividend payout ratio (DPR) is presently 24.42%.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.