Zurcher Kantonalbank Zurich Cantonalbank Buys 4,561 Shares of Teleflex Incorporated (NYSE:TFX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Teleflex Incorporated (NYSE:TFX) by 19.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,356 shares of the medical technology company’s stock after purchasing an additional 4,561 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Teleflex were worth $5,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFX. Riverview Trust Co bought a new stake in shares of Teleflex during the 1st quarter valued at $31,000. Pineridge Advisors LLC purchased a new position in Teleflex during the fourth quarter worth about $35,000. Versant Capital Management Inc grew 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 worth $44,000 after buying an additional 207 shares in the last quarter. Blue Trust Inc. grew its position in Teleflex by 78.2% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical technology company’s stock worth $48,000 after buying an additional 93 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Teleflex by 67.2% during the fourth quarter. Quadrant Capital Group LLC now owns 229 shares of the medical technology company’s stock worth $57,000 after buying an additional 92 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Teleflex Price Performance

Shares of TFX traded up $0.12 during midday trading on Friday, reaching $243.66. The stock had a trading volume of 61,094 shares, compared to its average volume of 378,509. The company’s 50-day moving average is $224.65 and its 200 day moving average is $220.00. Teleflex Incorporated has a 12-month low of $177.63 and a 12-month high of $257.85. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $11.48 billion, a price-to-earnings ratio of 39.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13.

Teleflex (NYSE:TFX) last issued its earnings results on Thursday, August 1st. The medical technology company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.09. The company had revenue of $749.70 million during the quarter, compared to analysts’ expectations of $762.98 million. Teleflex had a return on equity of 14.51% and a net margin of 8.76%. Teleflex’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.41 EPS. On average, equities analysts predict that Teleflex Incorporated will post 13.97 EPS for the current fiscal year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors 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 yield of 0.56%. The ex-dividend date is Thursday, August 15th. Teleflex’s dividend payout ratio is presently 21.83%.

Insider Activity at Teleflex

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company’s 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 completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at approximately $1,313,159.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is currently owned by company insiders.

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.