PNC Financial Services Group Inc. Purchases 1,113 Shares of Teleflex Incorporated (NYSE:TFX)

PNC Financial Services Group Inc. boosted its position in Teleflex Incorporated (NYSE:TFX) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,724 shares of the medical technology company’s stock after acquiring an additional 1,113 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Teleflex worth $9,584,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Teleflex by 8.3% in the first quarter. BlackRock Inc. now owns 4,652,821 shares of the medical technology company’s stock valued at $1,362,626,000 after acquiring an additional 357,882 shares during the last quarter. State Street Corp increased its stake in Teleflex by 1.4% in the fourth quarter. State Street Corp now owns 1,907,226 shares of the medical technology company’s stock valued at $717,956,000 after acquiring an additional 27,173 shares during the last quarter. Geode Capital Management LLC increased its stake in Teleflex by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 724,461 shares of the medical technology company’s stock valued at $272,155,000 after acquiring an additional 36,266 shares during the last quarter. William Blair Investment Management LLC boosted its position in Teleflex by 1.0% in the fourth quarter. William Blair Investment Management LLC now owns 686,983 shares of the medical technology company’s stock valued at $258,608,000 after buying an additional 6,652 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Teleflex by 70.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 574,834 shares of the medical technology company’s stock valued at $216,390,000 after buying an additional 237,080 shares in the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Stephen K. M.D. Klasko sold 200 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $360.95, for a total value of $72,190.00. Following the transaction, the director now owns 938 shares in the company, valued at $338,571.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP James J. Leyden sold 750 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $344.28, for a total transaction of $258,210.00. Following the completion of the transaction, the vice president now owns 14,141 shares in the company, valued at approximately $4,868,463.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,443 shares of company stock worth $810,601. 2.21% of the stock is owned by company insiders.

TFX has been the topic of a number of research analyst reports. JMP Securities cut their target price on shares of Teleflex from $395.00 to $385.00 and set a “market outperform” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Co raised their target price on shares of Teleflex from $365.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Raymond James raised their target price on shares of Teleflex from $360.00 to $400.00 and gave the company a “strong-buy” rating in a research report on Friday, May 1st. Piper Sandler cut their target price on shares of Teleflex from $425.00 to $375.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $431.00 target price on shares of Teleflex in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $381.40.

Shares of NYSE:TFX opened at $351.50 on Friday. The firm has a market cap of $16.32 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.82 and a beta of 0.99. The firm’s fifty day moving average is $332.01 and its 200-day moving average is $347.57. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.38 and a current ratio of 3.60. Teleflex Incorporated has a 52 week low of $221.27 and a 52 week high of $398.65.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.42. The company had revenue of $630.60 million for the quarter, compared to analyst estimates of $609.07 million. Teleflex had a net margin of 21.12% and a return on equity of 18.96%. Teleflex’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.24 earnings per share. Sell-side analysts forecast that Teleflex Incorporated will post 10.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.34 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.36 annualized dividend and a yield of 0.39%. Teleflex’s payout ratio is 12.20%.

About Teleflex

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It offers vascular access products that comprise Arrow branded catheters and related devices, including catheter positioning systems for use in the administration of intravenous medications and other therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site; and devices for treating coronary and peripheral vascular disease.

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Institutional Ownership by Quarter for Teleflex (NYSE:TFX)

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