True Wealth Design LLC Increases Stake in Teleflex Incorporated (NYSE:TFX)

True Wealth Design LLC grew its stake in shares of Teleflex Incorporated (NYSE:TFX) by 16,600.0% in the third quarter, HoldingsChannel.com reports. The firm owned 167 shares of the medical technology company’s stock after buying an additional 166 shares during the quarter. True Wealth Design LLC’s holdings in Teleflex were worth $41,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cromwell Holdings LLC raised 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 valued at $33,000 after buying an additional 49 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Teleflex by 190.6% in the third quarter. Avior Wealth Management LLC now owns 154 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 101 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Teleflex during the third quarter valued at about $40,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 97 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Teleflex in the second quarter worth about $42,000. Institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

TFX opened at $192.85 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The stock has a fifty day simple moving average of $219.90 and a two-hundred day simple moving average of $222.43. Teleflex Incorporated has a 12-month low of $185.66 and a 12-month high of $257.85.

Teleflex (NYSE:TFX) last issued its quarterly 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. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The company had revenue of $764.40 million during the quarter, compared to analyst estimates of $768.68 million. During the same period last year, the business earned $3.64 EPS. Teleflex’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.34 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. Teleflex’s dividend payout ratio is currently 27.04%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFX. StockNews.com raised Teleflex from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada reduced their target price on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Mizuho dropped their price target on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $227.00 target price (down from $255.00) on shares of Teleflex in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.25.

Teleflex Company 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.