Teleflex Incorporated (NYSE:TFX) Shares Bought by Truist Financial Corp


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Truist Financial Corp lifted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 46.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,980 shares of the medical technology company’s stock after purchasing an additional 4,435 shares during the period. Truist Financial Corp’s holdings in Teleflex were worth $5,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Security Asset Management increased its stake in shares of Teleflex by 19.0% during the fourth quarter. Security Asset Management now owns 7,448 shares of the medical technology company’s stock valued at $3,065,000 after acquiring an additional 1,188 shares during the period. Toronto Dominion Bank increased its stake in shares of Teleflex by 10.9% during the fourth quarter. Toronto Dominion Bank now owns 29,061 shares of the medical technology company’s stock valued at $11,960,000 after acquiring an additional 2,846 shares during the period. Bahl & Gaynor Inc. increased its stake in shares of Teleflex by 4.2% during the fourth quarter. Bahl & Gaynor Inc. now owns 48,645 shares of the medical technology company’s stock valued at $20,021,000 after acquiring an additional 1,947 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Teleflex by 5.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,376 shares of the medical technology company’s stock valued at $3,447,000 after acquiring an additional 450 shares during the period. Finally, Hartford Investment Management Co. increased its stake in shares of Teleflex by 8.5% during the fourth quarter. Hartford Investment Management Co. now owns 5,341 shares of the medical technology company’s stock valued at $2,198,000 after acquiring an additional 419 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Teleflex stock opened at $419.61 on Thursday. The company has a 50 day moving average price of $407.16 and a 200 day moving average price of $382.90. Teleflex Incorporated has a 52 week low of $307.50 and a 52 week high of $434.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.99. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 54.00, a P/E/G ratio of 2.63 and a beta of 1.14.

Teleflex (NYSE:TFX) last posted its quarterly earnings data on Thursday, February 25th. The medical technology company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.05 by $0.20. Teleflex had a net margin of 14.66% and a return on equity of 16.33%. The firm had revenue of $711.20 million during the quarter, compared to analyst estimates of $687.66 million. During the same quarter last year, the business posted $3.28 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Teleflex Incorporated will post 10.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, March 5th were given a $0.34 dividend. The ex-dividend date was Thursday, March 4th. This represents a $1.36 dividend on an annualized basis and a yield of 0.32%. Teleflex’s payout ratio is 12.20%.

A number of research analysts recently commented on the stock. KeyCorp raised their price objective on shares of Teleflex from $382.00 to $441.00 and gave the company an “overweight” rating in a research note on Friday, January 8th. Piper Sandler restated an “overweight” rating and set a $465.00 target price (up from $405.00) on shares of Teleflex in a report on Thursday, February 25th. UBS Group raised their target price on shares of Teleflex from $435.00 to $455.00 and gave the stock a “buy” rating in a report on Tuesday, December 15th. Wells Fargo & Company raised their target price on shares of Teleflex from $425.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, January 11th. Finally, Raymond James raised their target price on shares of Teleflex from $460.00 to $480.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 18th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $453.44.

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. It provides vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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