Mutual of America Capital Management LLC Decreases Position in Teleflex Incorporated (NYSE:TFX)

Mutual of America Capital Management LLC trimmed its position in shares of Teleflex Incorporated (NYSE:TFX) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,952 shares of the medical technology company’s stock after selling 224 shares during the period. Mutual of America Capital Management LLC’s holdings in Teleflex were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 acquiring an additional 96,711 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Teleflex by 12.0% during the 1st 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 in the last quarter. Wellington Management Group LLP boosted its holdings 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 worth $622,494,000 after buying an additional 52,533 shares during the period. Cooke & Bieler LP grew its stake 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 buying an additional 172,335 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings 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. 95.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the sale, the director now directly owns 5,496 shares in the company, valued at $1,313,159.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

TFX has been the topic of a number of analyst reports. Piper Sandler raised shares of Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Royal Bank of Canada upped their target price on Teleflex from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Stephens lifted their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial upped their price objective on shares of Teleflex from $240.00 to $247.00 and gave the stock 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $265.57.

Teleflex Stock Performance

Shares of TFX stock opened at $244.87 on Friday. The company has a market capitalization of $11.54 billion, a P/E ratio of 39.30, a PEG ratio of 2.23 and a beta of 1.16. Teleflex Incorporated has a fifty-two week low of $177.63 and a fifty-two week high of $257.85. 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 has a 50 day moving average price of $236.48 and a two-hundred day moving average price of $220.91.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, August 1st. The medical technology company reported $3.42 EPS for the quarter, beating the consensus estimate of $3.33 by $0.09. The firm had revenue of $749.70 million during the quarter, compared to the consensus estimate of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.41 earnings per share. Analysts expect that Teleflex Incorporated will post 13.97 earnings per share for the current year.

Teleflex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Teleflex’s payout ratio is currently 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.