Renaissance Technologies LLC Sells 45,500 Shares of Teleflex Incorporated (NYSE:TFX)

Renaissance Technologies LLC lowered its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 52.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 41,800 shares of the medical technology company’s stock after selling 45,500 shares during the period. Renaissance Technologies LLC’s holdings in Teleflex were worth $8,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Teleflex by 12.0% during the first quarter. Janus Henderson Group PLC now owns 5,409,317 shares of the medical technology company’s stock valued at $1,223,424,000 after buying an additional 581,312 shares during the last quarter. Cooke & Bieler LP increased its holdings in Teleflex by 23.3% in the 2nd quarter. Cooke & Bieler LP now owns 912,797 shares of the medical technology company’s stock valued at $191,989,000 after acquiring an additional 172,335 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Teleflex in the 2nd quarter worth $25,550,000. National Bank of Canada FI boosted its holdings in shares of Teleflex by 1,008.2% during the 2nd quarter. National Bank of Canada FI now owns 115,343 shares of the medical technology company’s stock valued at $24,388,000 after purchasing an additional 104,935 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Teleflex by 1,388.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 108,516 shares of the medical technology company’s stock valued at $22,331,000 after purchasing an additional 101,226 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

TFX has been the subject of a number of research reports. Stephens increased their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $205.00 to $245.00 in a research report on Monday, July 1st. Finally, Truist Financial increased their price objective on shares of Teleflex from $240.00 to $247.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Three investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.57.

Insider Buying and Selling

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is owned by corporate insiders.

Teleflex Stock Up 0.4 %

Shares of TFX opened at $245.90 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $236.19 and a 200 day moving average of $220.74. The company has a market cap of $11.58 billion, a PE ratio of 39.47, a P/E/G ratio of 2.23 and a beta of 1.16. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $257.85.

Teleflex (NYSE:TFX) last released its quarterly earnings results on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $762.98 million. During the same period in the previous year, the company earned $3.41 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts expect that Teleflex Incorporated will post 13.97 EPS for the current year.

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.55%. Teleflex’s payout ratio is 21.83%.

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.