Teleflex (NYSE:TFX) Sees Unusually-High Trading Volume

Shares of Teleflex Incorporated (NYSE:TFX) saw unusually-strong trading volume on Thursday . Approximately 490,417 shares traded hands during trading, an increase of 56% from the previous session’s volume of 313,788 shares.The stock last traded at $207.54 and had previously closed at $213.09.

Analyst Ratings Changes

A number of analysts have weighed in on TFX shares. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Truist Financial reduced their price target on shares of Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reduced their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Teleflex currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.75.

Teleflex Price Performance

The company has a quick ratio of 1.41, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The firm has a market cap of $9.79 billion, a PE ratio of 33.60, a P/E/G ratio of 2.06 and a beta of 1.13. The firm’s fifty day simple moving average is $213.31 and its two-hundred day simple moving average is $228.20.

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

Teleflex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, May 14th. Teleflex’s dividend payout ratio is presently 21.83%.

Insider Buying and Selling

In related news, VP Cameron P. Hicks sold 7,401 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the sale, the vice president now owns 10,050 shares in the company, valued at $2,261,250. 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.

Institutional Trading of Teleflex

A number of large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in Teleflex by 332.3% in the third quarter. Allworth Financial LP now owns 134 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 103 shares during the period. Covestor Ltd lifted its stake in Teleflex by 305.6% in the third quarter. Covestor Ltd now owns 146 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Riverview Trust Co purchased a new stake in Teleflex in the first quarter worth about $31,000. Lindbrook Capital LLC lifted its stake in Teleflex by 75.3% in the fourth quarter. Lindbrook Capital LLC now owns 135 shares of the medical technology company’s stock worth $34,000 after acquiring an additional 58 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Teleflex by 418.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the medical technology company’s stock worth $35,000 after acquiring an additional 113 shares during the period. 95.62% of the stock is owned by hedge funds and other institutional investors.

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.