IFM Investors Pty Ltd Makes New Investment in Teleflex Incorporated (NYSE:TFX)

IFM Investors Pty Ltd purchased a new stake in Teleflex Incorporated (NYSE:TFX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,688 shares of the medical technology company’s stock, valued at approximately $1,965,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFX. Exchange Traded Concepts LLC increased its stake in Teleflex by 157.5% in the third quarter. Exchange Traded Concepts LLC now owns 273 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 167 shares during the last quarter. Czech National Bank increased its stake in Teleflex by 47.7% in the third quarter. Czech National Bank now owns 8,213 shares of the medical technology company’s stock valued at $1,613,000 after acquiring an additional 2,653 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Teleflex by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,230 shares of the medical technology company’s stock valued at $3,777,000 after acquiring an additional 60 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Teleflex by 1.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,208 shares of the medical technology company’s stock valued at $2,398,000 after acquiring an additional 200 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Teleflex by 5.1% during the third quarter. Xponance Inc. now owns 6,780 shares of the medical technology company’s stock worth $1,332,000 after buying an additional 328 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Teleflex

In other Teleflex news, VP Cameron P. Hicks sold 7,401 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $225.00, for a total value of $1,665,225.00. Following the completion of the sale, the vice president now directly owns 10,050 shares of the company’s stock, valued at approximately $2,261,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Teleflex from $272.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, February 23rd. StockNews.com lowered shares of Teleflex from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. JMP Securities reiterated a “market outperform” rating and set a $285.00 price target on shares of Teleflex in a report on Friday, February 23rd. Finally, Truist Financial cut their price target on shares of Teleflex from $270.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

Teleflex Stock Performance

Shares of NYSE TFX remained flat at $206.71 during trading on Friday. 433,169 shares of the stock traded hands, compared to its average volume of 249,291. The firm has a fifty day moving average of $221.23 and a two-hundred day moving average of $226.03. Teleflex Incorporated has a 52-week low of $177.63 and a 52-week high of $276.43. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.32 and a quick ratio of 1.29.

Teleflex (NYSE:TFX) last posted its earnings results on Thursday, February 22nd. The medical technology company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.26 by $0.12. The company had revenue of $773.90 million during the quarter, compared to the consensus estimate of $769.01 million. Teleflex had a net margin of 11.98% and a return on equity of 14.98%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.52 earnings per share. On average, analysts predict that Teleflex Incorporated will post 13.73 EPS for the current year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, February 29th. Teleflex’s payout ratio is presently 18.06%.

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.