Teleflex Incorporated (NYSE:TFX) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lowered its holdings in Teleflex Incorporated (NYSE:TFX) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 2,220 shares of the medical technology company’s stock after selling 103 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Teleflex were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TFX. Lindbrook Capital LLC grew its position in Teleflex by 75.3% during the 4th quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after purchasing an additional 58 shares during the period. Riverview Trust Co acquired a new stake in Teleflex during the first quarter worth about $31,000. Pineridge Advisors LLC purchased a new position in Teleflex during the fourth quarter valued at approximately $35,000. Versant Capital Management Inc raised its position in Teleflex by 20,700.0% during the second quarter. Versant Capital Management Inc now owns 208 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 207 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Teleflex by 78.2% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

Shares of NYSE:TFX opened at $242.41 on Friday. 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 Incorporated has a 1 year low of $177.63 and a 1 year high of $257.85. The firm has a market capitalization of $11.42 billion, a PE ratio of 38.91, a P/E/G ratio of 2.16 and a beta of 1.13. The business’s 50 day moving average price is $221.51 and its 200-day moving average price is $220.03.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.09. The company had revenue of $749.70 million for the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a net margin of 8.76% and a return on equity of 14.51%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.41 EPS. As a group, equities research analysts expect that Teleflex Incorporated will post 13.96 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Teleflex’s dividend payout ratio is currently 21.83%.

Insider Activity

In related news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total transaction of $638,898.82. Following the transaction, the director now owns 5,496 shares in the company, valued at $1,313,159.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TFX shares. Piper Sandler upgraded shares of Teleflex from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $205.00 to $245.00 in a research note on Monday, July 1st. Truist Financial upped their price objective on shares of Teleflex from $240.00 to $247.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada raised their target price on Teleflex from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research report on Friday, May 3rd. Finally, Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Teleflex presently has an average rating of “Moderate Buy” and an average price target of $265.57.

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. 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.