Principal Financial Group Inc. Has $19.89 Million Position in Teleflex Incorporated (NYSE:TFX)

Principal Financial Group Inc. increased its position in Teleflex Incorporated (NYSE:TFX) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,409 shares of the medical technology company’s stock after purchasing an additional 2,086 shares during the quarter. Principal Financial Group Inc.’s holdings in Teleflex were worth $19,887,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Cromwell Holdings LLC boosted its stake in Teleflex by 59.0% in the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock valued at $33,000 after buying an additional 49 shares in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Teleflex by 190.6% in the 3rd quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 101 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Teleflex in the 3rd quarter worth about $40,000. True Wealth Design LLC increased its position in shares of Teleflex by 16,600.0% during the 3rd quarter. True Wealth Design LLC now owns 167 shares of the medical technology company’s stock worth $41,000 after purchasing an additional 166 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Teleflex in the second quarter valued at about $42,000. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TFX has been the subject of several recent analyst reports. StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Truist Financial cut their price objective on Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Monday, December 16th. Mizuho cut their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Royal Bank of Canada dropped their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.50.

Teleflex Stock Performance

Teleflex stock opened at $180.14 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.37 billion, a PE ratio of 35.81, a PEG ratio of 1.84 and a beta of 1.16. The company’s 50-day moving average is $197.86 and its two-hundred day moving average is $218.39. Teleflex Incorporated has a 1 year low of $171.69 and a 1 year high of $256.85.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, October 31st. The medical technology company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter in the previous year, the company posted $3.64 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, November 15th. Teleflex’s dividend payout ratio (DPR) is currently 27.04%.

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.