Teleflex Incorporated $TFX Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in Teleflex Incorporated (NYSE:TFX) by 13.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,440 shares of the medical technology company’s stock after selling 2,361 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Teleflex were worth $1,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Investment Management Inc. increased its position in Teleflex by 2.1% during the 2nd quarter. Thompson Investment Management Inc. now owns 4,970 shares of the medical technology company’s stock worth $588,000 after purchasing an additional 100 shares in the last quarter. CX Institutional boosted its stake in shares of Teleflex by 14.7% during the 2nd quarter. CX Institutional now owns 872 shares of the medical technology company’s stock worth $103,000 after purchasing an additional 112 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Teleflex by 38.3% during the first quarter. Signaturefd LLC now owns 433 shares of the medical technology company’s stock worth $60,000 after buying an additional 120 shares in the last quarter. Empirical Finance LLC raised its position in shares of Teleflex by 7.9% in the first quarter. Empirical Finance LLC now owns 1,690 shares of the medical technology company’s stock valued at $234,000 after buying an additional 124 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Teleflex by 30.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 556 shares of the medical technology company’s stock valued at $77,000 after buying an additional 129 shares during the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TFX shares. Mizuho raised their target price on shares of Teleflex from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada decreased their price objective on Teleflex from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Truist Financial dropped their target price on Teleflex from $128.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Teleflex in a research note on Thursday, November 13th. Finally, Zacks Research cut Teleflex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $134.57.

Teleflex Trading Down 1.5%

Shares of TFX opened at $105.81 on Thursday. Teleflex Incorporated has a twelve month low of $102.58 and a twelve month high of $195.42. The firm has a market capitalization of $4.68 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $122.36 and its 200 day simple moving average is $121.66.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, November 6th. The medical technology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.38 by $0.29. The company had revenue of $892.90 million during the quarter, compared to analyst estimates of $892.79 million. Teleflex had a return on equity of 15.08% and a net margin of 6.31%.The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.49 earnings per share. Teleflex has set its FY 2025 guidance at 14.000-14.200 EPS. On average, equities research analysts forecast that Teleflex Incorporated will post 13.98 earnings per share for the current year.

Teleflex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Teleflex’s dividend payout ratio is -18.50%.

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.