Conestoga Capital Advisors LLC Trims Holdings in Teleflex Incorporated (NYSE:TFX)

Conestoga Capital Advisors LLC decreased its position in shares of Teleflex Incorporated (NYSE:TFX) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 71,632 shares of the medical technology company’s stock after selling 2,197 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Teleflex were worth $17,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TFX. State of Michigan Retirement System increased its stake in shares of Teleflex by 0.8% during the 1st quarter. State of Michigan Retirement System now owns 12,917 shares of the medical technology company’s stock valued at $2,921,000 after acquiring an additional 100 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Teleflex by 6.2% during the first quarter. First Trust Direct Indexing L.P. now owns 1,254 shares of the medical technology company’s stock worth $284,000 after purchasing an additional 73 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teleflex in the 1st quarter valued at $2,467,000. BNP Paribas Financial Markets grew its stake in shares of Teleflex by 54.2% during the 1st quarter. BNP Paribas Financial Markets now owns 61,268 shares of the medical technology company’s stock valued at $13,857,000 after buying an additional 21,533 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Teleflex by 6.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company’s stock worth $328,000 after buying an additional 85 shares during the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFX. Truist Financial lifted their target price on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a report on Monday, October 14th. Stephens lifted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday. Finally, Royal Bank of Canada lifted their price target on shares of Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Three equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.86.

Insiders Place Their Bets

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the stock in a transaction on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $1,313,159.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is currently owned by company insiders.

Teleflex Stock Up 2.9 %

NYSE TFX traded up $5.90 on Friday, reaching $206.96. The company had a trading volume of 217,410 shares, compared to its average volume of 366,808. The firm has a market capitalization of $9.75 billion, a PE ratio of 36.09, a P/E/G ratio of 2.13 and a beta of 1.16. The firm has a 50-day moving average of $240.17 and a 200-day moving average of $223.92. Teleflex Incorporated has a 1 year low of $190.49 and a 1 year high of $257.85. 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 released its quarterly earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The business had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same period last year, the business earned $3.64 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.66%. Teleflex’s dividend payout ratio (DPR) is presently 24.42%.

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.