LGT Capital Partners LTD. Increases Stock Position in Teleflex Incorporated (NYSE:TFX)

LGT Capital Partners LTD. grew its stake in Teleflex Incorporated (NYSE:TFX) by 4.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 231,685 shares of the medical technology company’s stock after buying an additional 9,411 shares during the quarter. Teleflex makes up approximately 2.0% of LGT Capital Partners LTD.’s portfolio, making the stock its 18th biggest position. LGT Capital Partners LTD.’s holdings in Teleflex were worth $57,300,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pathstone Holdings LLC raised its holdings in shares of Teleflex by 34.8% during the 3rd quarter. Pathstone Holdings LLC now owns 8,700 shares of the medical technology company’s stock valued at $2,152,000 after buying an additional 2,245 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Teleflex by 21.3% during the third quarter. Thrivent Financial for Lutherans now owns 21,303 shares of the medical technology company’s stock valued at $5,269,000 after acquiring an additional 3,736 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Teleflex by 137.4% during the third quarter. Mutual of America Capital Management LLC now owns 14,128 shares of the medical technology company’s stock worth $3,494,000 after acquiring an additional 8,176 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Teleflex by 0.3% in the 3rd quarter. SRS Capital Advisors Inc. now owns 19,587 shares of the medical technology company’s stock valued at $4,844,000 after purchasing an additional 60 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Teleflex by 4.7% during the 3rd quarter. Natixis Advisors LLC now owns 20,916 shares of the medical technology company’s stock valued at $5,173,000 after purchasing an additional 937 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Price Performance

TFX opened at $194.43 on Tuesday. The stock’s 50 day moving average price is $230.35 and its 200-day moving average price is $223.37. Teleflex Incorporated has a 52-week low of $189.95 and a 52-week high of $257.85. The stock has a market capitalization of $9.03 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.42.

Teleflex (NYSE:TFX) last issued its quarterly earnings data on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to the consensus estimate of $768.68 million. During the same period in the previous year, the firm earned $3.64 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Teleflex’s payout ratio is presently 27.04%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TFX. Mizuho lowered their price target on shares of 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 note on Friday, November 1st. StockNews.com upgraded Teleflex from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Stephens boosted their price objective on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Truist Financial reissued a “hold” rating and set a $227.00 price objective (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Teleflex currently has an average rating of “Moderate Buy” and a consensus price target of $259.25.

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.