1832 Asset Management L.P. Buys 4,003 Shares of Teleflex Incorporated (NYSE:TFX)

1832 Asset Management L.P. lifted its position in Teleflex Incorporated (NYSE:TFX) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,418 shares of the medical technology company’s stock after acquiring an additional 4,003 shares during the period. 1832 Asset Management L.P. owned approximately 0.09% of Teleflex worth $9,820,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Teleflex by 1.8% during the first quarter. Vanguard Group Inc. now owns 5,550,727 shares of the medical technology company’s stock worth $1,255,408,000 after purchasing an additional 96,711 shares in the last quarter. Wellington Management Group LLP grew its stake in Teleflex by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 2,496,566 shares of the medical technology company’s stock valued at $622,494,000 after acquiring an additional 52,533 shares during the period. Cooke & Bieler LP increased its holdings in shares of Teleflex by 5.7% in 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 in the last quarter. Norges Bank bought a new position in shares of Teleflex during the 4th quarter valued at about $118,665,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Teleflex by 9.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 432,939 shares of the medical technology company’s stock valued at $107,949,000 after purchasing an additional 35,847 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TFX. Needham & Company LLC restated a “hold” rating on shares of Teleflex in a report on Friday, May 3rd. Truist Financial increased their target price on Teleflex from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Finally, Piper Sandler upgraded Teleflex from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $245.00 in a report on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teleflex currently has a consensus rating of “Moderate Buy” and an average price target of $263.14.

Teleflex Price Performance

TFX stock traded down $2.19 during mid-day trading on Friday, hitting $220.30. The stock had a trading volume of 500,583 shares, compared to its average volume of 381,919. The firm has a fifty day simple moving average of $212.42 and a 200 day simple moving average of $222.00. The firm has a market capitalization of $10.38 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.13 and a beta of 1.13. The company has a current ratio of 2.51, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Teleflex Incorporated has a 52 week low of $177.63 and a 52 week high of $258.89.

Teleflex (NYSE:TFX) last announced its quarterly earnings data 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 net margin of 9.82% and a return on equity of 14.78%. The business had revenue of $737.80 million during the quarter, compared to the consensus estimate of $726.85 million. During the same period in the previous year, the business earned $3.09 earnings per share. The company’s 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 announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th were issued a $0.34 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.62%. Teleflex’s dividend payout ratio (DPR) is currently 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.