Conestoga Capital Advisors LLC Decreases Position in Teleflex Incorporated (NYSE:TFX)

Conestoga Capital Advisors LLC lowered its stake in shares of Teleflex Incorporated (NYSE:TFX) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,632 shares of the medical technology company’s stock after selling 2,197 shares during the quarter. Conestoga Capital Advisors LLC owned 0.15% of Teleflex worth $17,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TFX. Cromwell Holdings LLC increased its holdings in Teleflex by 59.0% during the 3rd quarter. Cromwell Holdings LLC now owns 132 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 49 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Teleflex during the second quarter worth about $42,000. GAMMA Investing LLC increased its stake in shares of Teleflex by 131.1% during the third quarter. GAMMA Investing LLC now owns 171 shares of the medical technology company’s stock worth $42,000 after buying an additional 97 shares during the period. Versant Capital Management Inc raised its holdings in Teleflex by 20,700.0% in 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. lifted its stake in Teleflex by 78.2% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after acquiring an additional 93 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of Teleflex stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $238.93, for a total transaction of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares in the company, valued at approximately $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.43% of the company’s stock.

Wall Street Analyst Weigh In

TFX has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday. Truist Financial upped their target price on Teleflex from $247.00 to $255.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Stephens raised their price target on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price objective on Teleflex from $260.00 to $275.00 and gave the company an “outperform” rating in a research note 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $268.86.

Teleflex Stock Performance

Teleflex stock traded up $5.90 during trading hours on Friday, reaching $206.96. 217,410 shares of the stock were exchanged, compared to its average volume of 366,808. Teleflex Incorporated has a 52-week low of $190.49 and a 52-week high of $257.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 2.58. The firm’s 50 day moving average is $240.17 and its 200 day moving average is $223.92. The stock has a market cap of $9.75 billion, a P/E ratio of 36.09, a P/E/G ratio of 2.13 and a beta of 1.16.

Teleflex (NYSE:TFX) last released its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.11. The company had revenue of $764.40 million for the quarter, compared to analysts’ expectations of $768.68 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.64 EPS. Analysts predict that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Dividend Announcement

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

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.