Bahl & Gaynor Inc. Sells 366 Shares of Teleflex Incorporated (NYSE:TFX)

Bahl & Gaynor Inc. reduced its stake in shares of Teleflex Incorporated (NYSE:TFX) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,966 shares of the medical technology company’s stock after selling 366 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Teleflex were worth $4,742,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after acquiring an additional 96,711 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Teleflex by 5.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 26,140 shares of the medical technology company’s stock worth $5,912,000 after acquiring an additional 1,412 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Teleflex during the first quarter worth approximately $354,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Teleflex by 22.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 56,461 shares of the medical technology company’s stock worth $12,770,000 after acquiring an additional 10,203 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Teleflex by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 51,679 shares of the medical technology company’s stock valued at $11,688,000 after buying an additional 1,790 shares during the period. 95.62% of the stock is owned by institutional investors.

Teleflex Trading Up 0.5 %

NYSE:TFX traded up $1.02 during midday trading on Tuesday, hitting $223.61. The stock had a trading volume of 80,411 shares, compared to its average volume of 367,371. Teleflex Incorporated has a one year low of $177.63 and a one year high of $262.97. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.15 and a beta of 1.13. The stock has a 50-day moving average of $211.98 and a 200 day moving average of $222.48. The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.14. The business had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $726.85 million. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.09 EPS. As a group, sell-side analysts forecast that Teleflex Incorporated will post 13.75 EPS for the current year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.36 annualized dividend and a yield of 0.61%. Teleflex’s dividend payout ratio (DPR) is presently 21.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TFX. Truist Financial upped their target price on Teleflex from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Tuesday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, Piper Sandler raised Teleflex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $263.14.

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.