Royal London Asset Management Ltd. Buys 510 Shares of Teleflex Incorporated (NYSE:TFX)

Royal London Asset Management Ltd. grew its position in Teleflex Incorporated (NYSE:TFX) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,263 shares of the medical technology company’s stock after purchasing an additional 510 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Teleflex were worth $4,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pathstone Family Office LLC lifted its position in Teleflex by 103.9% during the 3rd quarter. Pathstone Family Office LLC now owns 2,088 shares of the medical technology company’s stock worth $410,000 after acquiring an additional 1,064 shares during the last quarter. UBS Group AG raised its position in shares of Teleflex by 34.1% during the third quarter. UBS Group AG now owns 52,733 shares of the medical technology company’s stock valued at $10,357,000 after buying an additional 13,395 shares during the last quarter. Deutsche Bank AG grew its position in Teleflex by 23.1% during the third quarter. Deutsche Bank AG now owns 157,522 shares of the medical technology company’s stock worth $30,939,000 after buying an additional 29,607 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Teleflex by 0.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,247 shares of the medical technology company’s stock valued at $3,182,000 after acquiring an additional 138 shares during the period. Finally, Aviva PLC raised its holdings in Teleflex by 15.4% in the 3rd quarter. Aviva PLC now owns 35,287 shares of the medical technology company’s stock valued at $6,931,000 after acquiring an additional 4,698 shares in the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TFX shares. Truist Financial lowered their price objective on Teleflex from $240.00 to $219.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Royal Bank of Canada cut 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. JMP Securities reiterated a “market outperform” rating and issued a $285.00 price objective on shares of Teleflex in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Teleflex in a research note on Friday, May 3rd. Finally, StockNews.com downgraded shares of Teleflex from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.29.

Teleflex Price Performance

Shares of TFX stock traded down $1.01 during trading hours on Friday, hitting $208.29. 193,248 shares of the company’s stock were exchanged, compared to its average volume of 551,435. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $262.97. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 2.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.51 and a quick ratio of 1.41. The stock’s 50-day moving average is $209.89 and its 200-day moving average is $227.94.

Teleflex (NYSE:TFX) last issued its quarterly earnings results on Thursday, May 2nd. The medical technology company reported $3.21 earnings per share (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 business had revenue of $737.80 million for the quarter, compared to the consensus estimate of $726.85 million. During the same quarter in the prior year, the company earned $3.09 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Teleflex Incorporated will post 13.75 EPS for the current year.

Teleflex Announces Dividend

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

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.