Ceredex Value Advisors LLC Raises Position in Teleflex Incorporated (NYSE:TFX)

Ceredex Value Advisors LLC increased its holdings in shares of Teleflex Incorporated (NYSE:TFX) by 64.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 199,975 shares of the medical technology company’s stock after buying an additional 78,500 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Teleflex were worth $49,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its stake in shares of Teleflex by 6.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,254 shares of the medical technology company’s stock valued at $284,000 after buying an additional 73 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teleflex during the first quarter valued at about $2,467,000. BNP Paribas Financial Markets increased its stake in Teleflex by 54.2% during the first quarter. BNP Paribas Financial Markets now owns 61,268 shares of the medical technology company’s stock worth $13,857,000 after acquiring an additional 21,533 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Teleflex by 6.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,451 shares of the medical technology company’s stock worth $328,000 after purchasing an additional 85 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Teleflex by 17.4% in the 1st quarter. Nordea Investment Management AB now owns 3,481 shares of the medical technology company’s stock worth $782,000 after purchasing an additional 517 shares during the period. 95.62% of the stock is owned by institutional investors and hedge funds.

Teleflex Price Performance

TFX stock opened at $211.21 on Friday. The stock’s 50 day moving average is $239.55 and its two-hundred day moving average is $223.93. Teleflex Incorporated has a 52-week low of $190.49 and a 52-week high of $257.85. The company has a market capitalization of $9.95 billion, a PE ratio of 41.99, a P/E/G ratio of 1.82 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

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 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 during the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the previous year, the firm earned $3.64 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that Teleflex Incorporated will post 13.97 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 dividend of $0.34 per share. The ex-dividend date is Friday, November 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.64%. Teleflex’s payout ratio is 27.04%.

Insider Transactions at Teleflex

In related news, Director Stuart A. Randle sold 2,674 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the sale, the director now directly owns 5,496 shares of the company’s stock, valued at $1,313,159.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TFX shares. Stephens boosted their target price on Teleflex from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada cut their target price on shares of Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday. Truist Financial upped their price target on shares of Teleflex from $247.00 to $255.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Teleflex in a research report on Friday. Finally, Mizuho decreased their target price on Teleflex from $275.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.75.

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.