Connecticut Wealth Management LLC Has $834,000 Position in Teleflex Incorporated (NYSE:TFX)

Connecticut Wealth Management LLC raised its stake in shares of Teleflex Incorporated (NYSE:TFX) by 11.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,347 shares of the medical technology company’s stock after purchasing an additional 335 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Teleflex were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. LGT Capital Partners LTD. grew its holdings in Teleflex by 285.4% in the 4th quarter. LGT Capital Partners LTD. now owns 257,864 shares of the medical technology company’s stock valued at $64,296,000 after buying an additional 190,950 shares during the last quarter. Invesco Ltd. grew its stake in shares of Teleflex by 23.3% in the third quarter. Invesco Ltd. now owns 621,445 shares of the medical technology company’s stock worth $122,058,000 after acquiring an additional 117,401 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Teleflex during the third quarter worth $9,173,000. Cooke & Bieler LP increased its position in Teleflex by 5.7% during the fourth quarter. Cooke & Bieler LP now owns 734,965 shares of the medical technology company’s stock worth $183,256,000 after acquiring an additional 39,308 shares during the period. Finally, Boston Trust Walden Corp raised its stake in Teleflex by 17.6% during the 4th quarter. Boston Trust Walden Corp now owns 227,888 shares of the medical technology company’s stock valued at $56,822,000 after purchasing an additional 34,100 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

Shares of TFX stock traded up $4.28 during trading hours on Friday, hitting $203.01. The company had a trading volume of 604,098 shares, compared to its average volume of 322,570. Teleflex Incorporated has a 12 month low of $177.63 and a 12 month high of $262.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.29 and a current ratio of 2.51. The firm’s fifty day moving average is $217.27 and its 200 day moving average is $226.57. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.94 and a beta of 1.13.

Teleflex (NYSE:TFX) last announced its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 EPS for the quarter, beating the consensus estimate of $3.07 by $0.14. Teleflex had a return on equity of 14.78% and a net margin of 9.82%. The business had revenue of $737.80 million for the quarter, compared to analyst estimates of $726.85 million. During the same quarter in the previous year, the firm earned $3.09 EPS. Teleflex’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Teleflex Incorporated will post 13.72 EPS for the current fiscal year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s dividend payout ratio (DPR) is currently 21.83%.

Wall Street Analysts Forecast Growth

TFX has been the topic of several research analyst reports. Royal Bank of Canada decreased their price target on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. JMP Securities reissued a “market outperform” rating and set a $285.00 target price on shares of Teleflex in a research report on Friday, February 23rd. Truist Financial cut their price target on Teleflex from $240.00 to $219.00 and set a “hold” rating for the company in a report on Friday. StockNews.com downgraded Teleflex from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Teleflex in a research report on Friday. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

Insider Activity at Teleflex

In other news, VP Cameron P. Hicks sold 7,401 shares of Teleflex stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 10,050 shares in the company, valued at $2,261,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.43% of the stock is currently owned by insiders.

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.