Principal Financial Group Inc. increased its position in Teleflex Incorporated (NYSE:TFX – Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,193 shares of the medical technology company’s stock after acquiring an additional 4,214 shares during the quarter. Principal Financial Group Inc.’s holdings in Teleflex were worth $25,620,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TFX. AQR Capital Management LLC raised its stake in Teleflex by 478.1% during the 3rd quarter. AQR Capital Management LLC now owns 2,366,131 shares of the medical technology company’s stock worth $287,603,000 after acquiring an additional 1,956,811 shares during the period. Norges Bank bought a new position in shares of Teleflex in the fourth quarter worth approximately $66,076,000. Wolf Hill Capital Management LP purchased a new stake in shares of Teleflex in the fourth quarter worth $47,405,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Teleflex by 123.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 660,800 shares of the medical technology company’s stock worth $80,855,000 after purchasing an additional 365,663 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of Teleflex by 84.2% during the 1st quarter. Pzena Investment Management LLC now owns 699,125 shares of the medical technology company’s stock valued at $83,622,000 after purchasing an additional 319,660 shares during the period. 95.62% of the stock is owned by hedge funds and other institutional investors.
Teleflex Trading Down 0.2%
TFX stock opened at $134.33 on Tuesday. The firm has a fifty day moving average price of $130.57 and a 200 day moving average price of $120.56. Teleflex Incorporated has a fifty-two week low of $100.18 and a fifty-two week high of $139.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.03 and a current ratio of 2.55. The firm has a market cap of $5.95 billion, a PE ratio of -5.89, a price-to-earnings-growth ratio of 1.00 and a beta of 0.82.
Teleflex Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 25th were issued a $0.34 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.0%. Teleflex’s payout ratio is -5.96%.
Analysts Set New Price Targets
Several brokerages recently weighed in on TFX. Truist Financial reaffirmed a “hold” rating and issued a $143.00 target price (up from $135.00) on shares of Teleflex in a report on Monday, May 11th. Raymond James Financial reissued an “outperform” rating and set a $150.00 price target on shares of Teleflex in a report on Friday, May 8th. Mizuho boosted their price objective on Teleflex from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Wall Street Zen raised Teleflex from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, BMO Capital Markets began coverage on Teleflex in a research report on Wednesday, July 8th. They set an “outperform” rating and a $159.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Teleflex presently has a consensus rating of “Hold” and an average price target of $148.00.
About Teleflex
Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.
The company’s offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.
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