Brown Brothers Harriman & Co. Lowers Stock Holdings in Teleflex Incorporated (NYSE:TFX)

Brown Brothers Harriman & Co. reduced its position in Teleflex Incorporated (NYSE:TFX) by 20.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,592 shares of the medical technology company’s stock after selling 402 shares during the period. Brown Brothers Harriman & Co.’s holdings in Teleflex were worth $335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in Teleflex in the 1st quarter worth approximately $31,000. Pineridge Advisors LLC acquired a new position in shares of Teleflex in the 4th quarter valued at $35,000. Versant Capital Management Inc boosted its holdings in shares of Teleflex by 20,700.0% in the 2nd quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 207 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Teleflex by 78.2% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock valued at $48,000 after purchasing an additional 93 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Teleflex by 67.2% in the 4th quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock valued at $57,000 after purchasing an additional 92 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction on 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 owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TFX shares. Truist Financial lifted their price target on shares of Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a report on Monday, August 5th. Stephens lifted their price target on shares of Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $205.00 to $245.00 in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average price target of $265.57.

Teleflex Stock Performance

NYSE:TFX opened at $241.53 on Thursday. 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 firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 2.23 and a beta of 1.16. The firm’s fifty day simple moving average is $234.49 and its 200 day simple moving average is $220.23. Teleflex Incorporated has a twelve month low of $177.63 and a twelve month high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm had revenue of $749.70 million for the quarter, compared to the consensus estimate of $762.98 million. During the same quarter in the previous year, the firm posted $3.41 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Teleflex Incorporated will post 13.97 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s dividend payout ratio (DPR) is 21.83%.

Teleflex 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.