Procyon Advisors LLC Grows Holdings in Teleflex Incorporated (NYSE:TFX)

Procyon Advisors LLC grew its holdings in Teleflex Incorporated (NYSE:TFX) by 27.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,288 shares of the medical technology company’s stock after purchasing an additional 494 shares during the period. Procyon Advisors LLC’s holdings in Teleflex were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFX. Goldman Sachs Group Inc. increased its stake in Teleflex by 11.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 171,959 shares of the medical technology company’s stock worth $42,876,000 after purchasing an additional 17,669 shares during the period. Vanguard Group Inc. increased its stake in Teleflex by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,454,016 shares of the medical technology company’s stock worth $1,359,904,000 after purchasing an additional 57,132 shares during the period. PNC Financial Services Group Inc. increased its stake in Teleflex by 6.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 18,089 shares of the medical technology company’s stock worth $4,510,000 after purchasing an additional 1,018 shares during the period. Nomura Holdings Inc. purchased a new stake in Teleflex in the fourth quarter worth $237,000. Finally, Mather Group LLC. purchased a new stake in Teleflex in the first quarter worth $59,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of TFX stock opened at $235.38 on Wednesday. Teleflex Incorporated has a 1-year low of $177.63 and a 1-year high of $257.85. The stock’s 50-day moving average is $240.35 and its 200 day moving average is $222.68. The company has a market cap of $11.09 billion, a P/E ratio of 37.78, a PEG ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.58 and a quick ratio of 1.44.

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

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, August 15th. Teleflex’s dividend payout ratio is presently 21.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and raised their price target for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Stephens raised 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. Truist Financial raised their price target on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada raised their price target on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $268.86.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.43% of the company’s stock.

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.