R Squared Ltd Takes Position in Teleflex Incorporated (NYSE:TFX)

R Squared Ltd purchased a new stake in Teleflex Incorporated (NYSE:TFX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 360 shares of the medical technology company’s stock, valued at approximately $64,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TFX. Public Sector Pension Investment Board raised its position in shares of Teleflex by 80.4% in the second quarter. Public Sector Pension Investment Board now owns 1,799 shares of the medical technology company’s stock valued at $378,000 after purchasing an additional 802 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Teleflex by 19.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 484 shares of the medical technology company’s stock valued at $102,000 after purchasing an additional 80 shares during the period. Quarry LP purchased a new position in Teleflex during the second quarter valued at approximately $48,000. Sanctuary Advisors LLC purchased a new position in Teleflex during the second quarter valued at approximately $918,000. Finally, Czech National Bank grew its stake in Teleflex by 6.9% during the third quarter. Czech National Bank now owns 9,598 shares of the medical technology company’s stock valued at $2,374,000 after acquiring an additional 623 shares in the last quarter. Institutional investors own 95.62% of the company’s stock.

Teleflex Stock Performance

NYSE:TFX opened at $180.23 on Friday. Teleflex Incorporated has a 1-year low of $171.69 and a 1-year high of $256.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.42 and a quick ratio of 1.39. The business has a 50 day moving average of $182.11 and a 200 day moving average of $213.29. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 1.78 and a beta of 1.16.

Teleflex (NYSE:TFX) last announced 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 company had revenue of $764.40 million during the quarter, compared to analysts’ expectations of $768.68 million. During the same quarter in the prior year, the company earned $3.64 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TFX has been the subject of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial reduced their price objective on shares of Teleflex from $227.00 to $200.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research note on Monday, December 16th. Mizuho reduced their price objective 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. Finally, StockNews.com raised shares of Teleflex from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.50.

About Teleflex

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.